Preferred Stock:
Number of shares outstanding = 14,000
Par Value = $104
Value of Preferred Stock = Number of shares outstanding * Par
Value
Value of Preferred Stock = 14,000 * $104
Value of Preferred Stock = $1,456,000
Annual Dividend = 13% * Value of Preferred Stock
Annual Dividend = 13% * $1,456,000
Annual Dividend = $189,280
Common Stock:
Number of shares outstanding = 22,000
Total Dividend declared = $220,000
Dividend paid to Preferred Stockholders = $189,280
Dividend paid to Common Stockholders = $30,720 ($220,000 -
$189,280)
Dividend per preferred stock = $189,280 / 14,000
Dividend per preferred stock = $13.52
Dividend per common stock = $30,720 / 22,000
Dividend per common stock = $1.40
A corporation has 14,000 shares of 13%, $104 par noncumulative preferred stock outstanding and 22,000 shares...
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