Dividends Per Share Seacrest Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends: 20Y1 $56,300 20Y2 9,000 20Y3 67,500 Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
Dividends Per Share
Seacrest Company has 15,000 shares of cumulative preferred 3% stock, $50 par and 50,000 shares of $15 par common stock. The following amounts were distributed as dividends:
| 20Y1 | $56,300 |
| 20Y2 | 9,000 |
| 20Y3 | 67,500 |
Determine the dividends per share for preferred and common stock for each year. Round all answers to two decimal places. If an answer is zero, enter '0'.
(dividends per share) |
Common Stock (dividends per share) |
|
| 20Y1 | $fill in the blank 1 | $fill in the blank 2 |
| 20Y2 | $fill in the blank 3 | $fill in the blank 4 |
| 20Y3 | $fill in the blank 5 | $fill in the blank 6 |
A dividend is distribution of cash or stock made by corporation to its shareholders based on number of shares held by shareholder.
Dividend on Preferred Stock:
• Holders of cumulative preferred stock must be paid any prior year dividends which remain unpaid in previous years and their current year’s dividend before any payment is being made to common stock holders.
• For non cumulative stock holders, they have right for stated preference dividend for the current year if the profit attributable to stock holders is adequate but they have no right for prior year dividends which remained unpaid.
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