NMB CORPORATION HAS 5,000,000 ORDINARY SHARES AND 1,000,000 SHARES OF 6% P100 PAR VALUE CUMULATIVE PREFERENCE SHARES. DURING THE RECESSION OF THE PAST TWO YEARS, NMB SUSPENDED ALL DIVIDEND PAYMENTS. THIS YEAR NMB RETURNED TO PROFITABILITY, AND THE BOARD OF DIRECTORS DECLARED A P1 PER SHARE ORDINARY SHARES DIVIDEND TO BE PAID AT THE END OF THE YEAR. HOW MUCH WOULD NMB HAVE TO PAY IN DIVIDENDS THIS YEAR?     5,0000   11,000,000   17,000,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
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NMB CORPORATION HAS 5,000,000 ORDINARY SHARES AND 1,000,000 SHARES OF 6% P100 PAR VALUE CUMULATIVE PREFERENCE SHARES. DURING THE RECESSION OF THE PAST TWO YEARS, NMB SUSPENDED ALL DIVIDEND PAYMENTS. THIS YEAR NMB RETURNED TO PROFITABILITY, AND THE BOARD OF DIRECTORS DECLARED A P1 PER SHARE ORDINARY SHARES DIVIDEND TO BE PAID AT THE END OF THE YEAR. HOW MUCH WOULD NMB HAVE TO PAY IN DIVIDENDS THIS YEAR?
 
 
5,0000
 
11,000,000
 
17,000,000
 
23,000,000
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