Question
announcement impact its financial statements? NOVEMBER 9, 2020 BY DR. WENDY TIETZ, CPA, CMA, CSCA, CGMA 2 COMMENTS Corn Flakes are just one of Kelloggs
announcement impact its financial statements?
NOVEMBER 9, 2020 BY DR. WENDY TIETZ, CPA, CMA, CSCA, CGMA 2 COMMENTS
Corn Flakes are just one of Kelloggs many product lines
On October 23, 2020, the Kellogg Company (brands include Kelloggs, Pringles, Eggo, Cheez-It, and many others) made the following dividend announcement:
Kellogg Company (NYSE: K) today announced that its Board of Directors declared a dividend of $0.57 per share on the common stock of the Company, payable on December 15, 2020, to shareowners of record at the close of business on December 1, 2020.
Questions
- What is the impact on Kelloggs balance sheet related to the dividend on the following dates:
- October 23, 2020
- December 1, 2020
- December 15, 2020
- On what date will a shareholder receive the cash dividend?
- On what date does the dividend become a liability for Kelloggs?
- Does the dividend announcement or payment have an impact on net income? Explain.
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