Answer:
Noncumulative Preferred |
Common |
|
Year 1 |
$790 |
$0 |
Year 2 |
$1010 |
$620 |
Workings:
Year 1:
Amount of Preferred dividend = (4500 shares x $2) x 10% = $900
Total Dividends = $790
Arrear of Dividends = $900 - $790 = $110
Common stock holder will get zero amount of Dividend in year 1.
Year 2:
Amount of Preferred dividend = (4500 shares x $2) x 10% = $900
Arrear of Dividends = $110
Total Dividend paid to preferred stockholder = $900 + $110 = $1010
Total Dividends = $1630
Dividends paid to common stockholder = $1630 - $1010 = $620.
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