Homework Answers
| Prior year unpaid dividend on preferred stock must be paid before any dividend Is paid to common shareholders | ||||
| No prior year dividend is paid on non cumulative preferred stock | ||||
| Hence, the answer is as follows | ||||
| Case | Type | Dividend per share | Periods of Dividend passed | Dividend per share Before common stock dividend |
| A | Cumulative | 14.7 | 1 | 29.4 |
| D | NonCumulative | 1.6 | 5 | 1.6 |
| C | NonCumulative | 2.45 | 4 | 2.45 |
| D | Cumulative | 1.25 | 2 | 3.75 |
| E | Cumulative | 5.5 | 6 | 38.5 |
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