PROBLEM I: 25 POINTS SHOW ALL WORK) Dick\'s outstanding stock consists of 40,000

Question

PROBLEM I: 25 POINTS SHOW ALL WORK) Dick's outstanding stock consists of 40,000 shares of cumulative 4% preferred stock with a $10 par value and also 100,000 shares of common stock with a $1 par value REQUIRED: Determine the amount of dividends paid each year to each of the two classes of stock: preferred and common. Also compute the per share dividend paid each year to each of the two classes of stock YEAR DIVIDENDS PREFERRED STOCK COMMON STOCK TOTAL PER SHARE TOTAL PER SHARE 2014 $ 10,000 2015 $ 14,000 2016 $100,000 2017 $175,000

Explanation / Answer

Dividend distribution :

Year Dividends Preferred stock Common stock Total Per share Total Per share 2014 10000 10000 0.25 2015 14000 14000 0.35 2016 100000 24000 0.60 76000 0.76 2017 175000 16000 0.40 159000 1.59

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