Hopen Consulting Has 310,000 Shares of $100 Par Value, 8

question 97

Multiple Choice

Hopen Consulting has 310,000 shares of $100 par value, 8% cumulative preferred stock and 2,650,000 shares of common stock. Although no dividend was declared last year, a $6,500,000 dividend has been declared this year. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.

• A) $0.58
• B) $1.44
• C) $0.62
• D) $0.51

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