Bob Wright

Bob Wright owned 100 shares of Lawson Company's convertible preferred stock at $10 par value. He converted each share of preferred stock into three shares of common stock.

-Refer to Bob Wright. If the convertible preferred stock paid 7% annually and the common stock pays $0.40 a share this year, how much more dividend will Bob Wright receive this year because of his conversion?

Question

Bob Wright
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Bob Wright owned 100 shares of Lawson Company's convertible preferred stock at $10 par value. He converted each share of preferred stock into three shares of common stock.
​
-Refer to Bob Wright. If the convertible preferred stock paid 7% annually and the common stock pays $0.40 a share this year, how much more dividend will Bob Wright receive this year because of his conversion?​

Quizplus · Accepted Answer

The Answer of Bob Wright
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Bob Wright owned 100 shares of Lawson Company's convertible preferred stock at $10 par value. He converted each share of preferred stock into three shares of common stock.
​
-Refer to Bob Wright. If the convertible preferred stock paid 7% annually and the common stock pays $0.40 a share this year, how much more dividend will Bob Wright receive this year because of his conversion?​

Bob Wright ​

Bob Wright