Dividends Per Share Oceanic Company has 30,000 shares of cumulative preferred 1% stock, $50 par and...
Dividends Per Share
Oceanic Company has 30,000 shares of cumulative preferred 1% stock, $50 par and 50,000 shares of $25 par common stock. The following amounts were distributed as dividends:
| Year 1 | $37,500 |
| Year 2 | 7,500 |
| Year 3 | 45,000 |
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
| Preferred Stock (dividends per share) |
Common Stock (dividends per share) |
|
| Year 1 | $ | $ |
| Year 2 | $ | $ |
| Year 3 | $ | $ |
Homework Answers
Preferred dividends = 30000 x $50 x 1% = $15000
| Year |
Preferred stock (dividend per share) |
Common stock (dividend per share) |
|---|---|---|
| 1 | $15000/30000 = $0.50 per share | ($37500 - 15000)/50000 = $0.45 per share |
| 2 | $7500/30000 = $0.25 per share | not paid |
| 3 | ($15000 + $7500 for previous year)/30000 = $0.75 per share | ($45000 - $15000 - $7500)/50000 = $0.45 per share |
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