A company has 2,000 shares of $100 par,6%,noncumulative preferred stock outstanding.If the board of directors declares a dividend this year,how much will the preferred shareholders receive?
A)$100 per share
B)$6 per share
C)$200,000 in total
D)$60 per share

Question

Quizplus · Accepted Answer

The preferred shareholders will receive a 6% dividend on the $100 par value, which equals $6 per share.

A Company Has 2,000 Shares of $100 Par,6%,noncumulative Preferred Stock