Question & Answer: Calculate the annual cash dividends required to be paid for each of the following preferred stock issues:…..

Calculate the annual cash dividends required to be paid for each of the following preferred stock issues:

Required:

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a. $2.20 cumulative preferred, no par value; 210,000 shares authorized, 126,000 shares issued. (The treasury stock caption of the stockholders’ equity section of the balance sheet indicates that 40,727 shares of this preferred stock issue are owned by the company.) (Round your answer to 2 decimal places.)

Annual dividends:

b. 5%, $50 par value preferred, 296,000 shares authorized, 171,000 shares issued, and 73,038 shares outstanding. (Round your answer to 2 decimal places.)

Annual Dividends:

c. 11.4% cumulative preferred, $100 stated value, $102 liquidating value; 78,000 shares authorized, 45,000 shares issued, 34,000 shares outstanding.

Annual Dividends:

Expert Answer

 

CALCULATE ANNUAL DIVIDENDS :

A) Annual dividend = Prefered share outstanding*dividend per share

= (126000-40727)*2.2

Annual dividend = $187600.60

B) Annual dividend = share outstanding*par value*dividend rate

= 73038*50*5%

Annual dividend = $182595

C) Annual dividend = share outstanding*stated value*dividend rate

= 34000*100*11.4%

Annual dividend = $387600

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