Winston Corporation has 9,000 shares of 4%, $10 par cumulative preferred stock and 47,000 shares of common stock outstanding. Winston declared no dividends in 2017 and had no dividends in arrears prior to 2017. In 2018, WinstonWinston declares a total dividend of $54,000. How much of the dividends go to the common stockholders?
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Ответ:
Total dividend for common stockholders = $46,800
Explanation:
Given:
Number of Cumulative share = 9,000
Price of each share = $10
Dividend rate = 4% = 4/100 = 0.04
Cumulative number of year = 2
Total Declared dividend = $54,000
Computation of Total dividend for common stockholders:
Total dividend each year = Number of Cumulative share × Price of each share × Dividend rate × Cumulative number of year
Total dividend each year = 9,000 × $10 × 0.04 × 2
Total dividend each year = 7,200
Total dividend for common stockholders = Total Declared dividend - Total dividend each year
Total dividend for common stockholders = $54,000 - $7,200
Total dividend for common stockholders = $46,800
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