Dividends Per Share
Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 20,000 shares of cumulative preferred 4% stock, $160 par, and 67,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $85,800; second year, $180,200; third year, $208,010; fourth year, $208,400.
Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
1st Year | 2nd Year | 3rd Year | 4th Year | |
Preferred stock (dividend per share) | $ | $ | $ | $ |
Common stock (dividend per share) | $ | $ | $ | $ |
Answer
1st year |
2nd year |
3rd year |
4th year |
|
Preferred Dividend per share |
$ 4.29 |
$ 8.51 |
$ 6.40 |
$ 6.40 |
Common Stock per share |
$ - |
$ 0.15 |
$ 1.19 |
$ 1.20 |
--Workings
Par Value per Preferred Share |
Dividend rate |
Dividend per Preferred Share |
No. of Preferred Shares |
Preferred Dividend |
|
Annual Preferred Dividend: |
$ 160 |
4.00% |
$ 6.400 |
20,000 |
$ 128,000.00 |
Total Cash Dividend paid |
Paid to Preferred |
Paid to Common |
Dividends in Arrears at Year end |
||
Year 1 |
$ 85,800.00 |
$ 85,800.00 |
$ - |
$ 42,200.00 |
|
Year 2 |
$ 180,200.00 |
$ 170,200.00 |
$ 10,000.00 |
$ - |
|
Year 3 |
$ 208,010.00 |
$ 128,000.00 |
$ 80,010.00 |
$ - |
|
Year 4 |
$ 208,400.00 |
$ 128,000.00 |
$ 80,400.00 |
$ - |
|
TOTAL |
$ 682,410.00 |
$ 512,000.00 |
$ 170,410.00 |
$ - |
1st year |
2nd year |
3rd year |
4th year |
|
Preferred Dividend: |
||||
Total |
$ 85,800.00 |
$ 170,200.00 |
$ 128,000.00 |
$ 128,000.00 |
Dividend per share |
$ 4.29 |
$ 8.51 |
$ 6.40 |
$ 6.40 |
Common Stock Dividend: |
||||
Total |
$ - |
$ 10,000.00 |
$ 80,010.00 |
$ 80,400.00 |
Dividend per share |
$ - |
$ 0.15 |
$ 1.19 |
$ 1.20 |
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