Alpha Corp has issued and outstanding, 100,000 shares of preferred stock that pays, cumulatively, $0.25 per...
Alpha Corp has issued and outstanding, 100,000 shares of preferred stock that pays, cumulatively, $0.25 per share annually in dividends. Alpha paid total dividends (preferred and common) $20,000 in 2014 and $15,000 in 2015. The directors voted to pay $60,000 in dividends for 2016. How much of these 2016 dividends will the common shareholders receive?
Homework Answers
| Dividend payable for Pefered stock = $100,000*0.25 = $25,000 | ||
| Dtotal Dividend payable for 2016 = $60,000 | ||
| The dividend paid in 2014 and 2015 is only to prefered stock, which means there is Dividend payable of: | ||
| $5,000 for 2014 and $10,000 for 2015 which will be paid in 2016 | ||
| So for 2016 the Total preference dividend will be paid of: | ||
| For 2014:$5,000 | ||
| For 2015:$10,000 | ||
| For 2014:$25,000 | ||
| Total Dividend for preference shares = $40,000 | ||
| So Dividend for common shares = $60,000-40,000 = $20,000 | ||
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