Calculate the Cash Dividends Required to Be Paid for Each

question 21

Essay

Calculate the cash dividends required to be paid for each of the following preferred stock issuances:
(a.) The semiannual dividend on 11.5% cumulative preferred, $100 par value;
6,000 shares authorized, issued, and outstanding.(b.) The total dividends owed to preferred shareholders on $1.50 annual cumulative preferred, 100,000 shares authorized, 85,000 shares issued, and 81,350 shares outstanding. The company did not pay dividends during the prior two years or during the current year.(c.) The quarterly dividend on 9.6% cumulative preferred, $70 stated value, $72 liquidating value, 20,000 shares authorized, 15,000 shares issued and outstanding. No dividends in arrears.