Par value per preferred share |
Dividend rate |
Dividend per preferred share |
Number of preferred shares |
Preferred dividend for two years |
|
Calculation of preferred dividend |
$5 |
10% |
5 x 10% = $0.5 |
88,000 |
88,000 x 0.5 x 2 = $88,000 |
Total cash dividend paid |
$165,000 |
||||
Paid to preferred shareholders |
$88,000 |
||||
Paid to common shareholders |
$77,000 |
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