10.00 points York\'s outstanding stock consists of 55,000 shares of cumulative 6

Question

10.00 points York's outstanding stock consists of 55,000 shares of cumulative 6.50% preferred stock with a $10 par value and also 137,500 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends 2015 S 29,000 2016 2017 2018 30,875 68,250 100,750 Determine the amount of dividends paid each year to each of the two classes of stockholders assuming that the preferred stock is cumulative. Also determine the total dividends paid to each class for the four years combined. (Round your "Dividend per Preferred Share" answers to 2 decimal places.) Par Value per Number Preferred per Preferred Dividend Preferred Dividend Rate Preferred Share Share Shares Annual Preferred Dividend: Paid to Preferred Dividends in Arrears at Total Cash Paid to Commorn Dividend Paid 29,000 30,875 68,250 100,750 ar-end 2015 2016 2017 2018 Total $ 228,875$

Explanation / Answer

Dividend distribution :

Par value per preferred share Dividend rate Dividend per preferred share Number of preferred share Preferred dividend Annual preferred dividend 10 6.5% 0.65 55000 35750 Total cash dividend paid Paid to preferred paid to Common Dividend in arrears at year end 2015 29000 29000 0 6750 2016 30875 30875 0 11625 2017 68250 47375 20875 0 2018 100750 35750 65000 0 Total 228875 143000 85875 0

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