On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock. Dividend Payment Date Dividend Per Share 22-Feb-16 0.25556 23-Nov-15 0.25556 21-Aug-15 0.25556 21-May-15 0.24722 23-Feb-15 0.25556 There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015.Round answer to the nearest million and show how your arrived to the answer.
On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock. Dividend Payment Date Dividend Per Share 22-Feb-16 0.25556 23-Nov-15 0.25556 21-Aug-15 0.25556 21-May-15 0.24722 23-Feb-15 0.25556 There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015.Round answer to the nearest million and show how your arrived to the answer.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3RE
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On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative
Dividend Payment Date | Dividend Per Share |
---|---|
22-Feb-16 | 0.25556 |
23-Nov-15 | 0.25556 |
21-Aug-15 | 0.25556 |
21-May-15 | 0.24722 |
23-Feb-15 | 0.25556 |
There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015.
Round answer to the nearest million and show how your arrived to the answer.
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