Calculate the annual cash dividends required to be paid for each of the following preferred stock issuances:
(a.) $ \$ 2.40 $ cumulative preferred, no par value; 300,000 shares authorized, 235,000 shares issued, 14,000 shares held as treasury stock.
(b.) $ 10 \%, \$ 50 $ par value preferred; 100,000 shares authorized, 62,000 shares issued and outstanding.
(c.) $ 13 \% $ cumulative preferred, $ \$ 40 $ stated value, $ \$ 42 $ liquidating value; 70,000 shares authorized, 46,000 shares issued, 44,000 shares outstanding.

Question

Calculate the annual cash dividends required to be paid for each of the following preferred stock issuances:
 (a.) $ \$ 2.40 $ cumulative preferred, no par value; 300,000 shares authorized, 235,000 shares issued, 14,000 shares held as treasury stock.
(b.) $ 10 \%, \$ 50 $ par value preferred; 100,000 shares authorized, 62,000 shares issued and outstanding.
(c.) $ 13 \% $ cumulative preferred, $ \$ 40 $ stated value, $ \$ 42 $ liquidating value; 70,000 shares authorized, 46,000 shares issued, 44,000 shares outstanding.

Quizplus · Accepted Answer

The Answer of Calculate the annual cash dividends required to be paid for each of the following preferred stock issuances:
 (a.) $ \$ 2.40 $ cumulative preferred, no par value; 300,000 shares authorized, 235,000 shares issued, 14,000 shares held as treasury stock.
(b.) $ 10 \%, \$ 50 $ par value preferred; 100,000 shares authorized, 62,000 shares issued and outstanding.
(c.) $ 13 \% $ cumulative preferred, $ \$ 40 $ stated value, $ \$ 42 $ liquidating value; 70,000 shares authorized, 46,000 shares issued, 44,000 shares outstanding.

Calculate the Annual Cash Dividends Required to Be Paid for Each