Calculate the cash dividends required to be paid for each of the following preferred stock issuances:...
Calculate the cash dividends required to be paid for each of the
following preferred stock issuances:
| (a.) | The semiannual dividend on 11.5% cumulative preferred, $100 par value; 6,000 shares authorized, issued, and outstanding. |
| (b.) | The total dividends owed to preferred shareholders on $1.50 annual cumulative preferred, 100,000 shares authorized, 85,000 shares issued, and 81,350 shares outstanding. The company did not pay dividends during the prior two years or during the current year. |
| (c.) | The quarterly dividend on 9.6% cumulative preferred, $70 stated value, $72 liquidating value, 20,000 shares authorized, 15,000 shares issued and outstanding. No dividends in arrears. |
Homework Answers
| Answer |
| Calculatation the cash dividends |
| A) Semi-annual preffred interest. |
| Annual Dividend |
| $100*11.5%*6000 |
| $69,000 |
| Semi-annual Dividend |
| 69000/2 |
| Estimated Cash Dividend |
| $34500 |
| b) Calculate annual Prefred dividend owed: |
| 1.5*81350 |
| $ 122025 |
| c) Calculate Quarterly Prefred dividend: |
| Annual Dividend |
| 70*9.6%*15000 |
| $100800 |
| Quarterly Dividend |
| 100800*1/4 |
| Estimated Cash Dividend |
| $25200 |
| Please Like ( Positive rating ) |
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