January 2 : Purchased 10.090 shares of its common stock for STEP method of accounting for treasury stock transactions February 1 Declared and paid a cash dividend of #2 per share on to Stock April 1 Issued 20 090 shares of $50 par noncumulative convertible per share , where one share of preferred stock is convertible into fou July 1 : 2090 shares of treasury stock that had been purchased in a were re -issued for 521 per share August 1 : Holders of 8 690 shares of the preferred stock converted stock when the market value of the common stock was $22 per shay method of accounting for conversions October 1 Declared and distributed a 3076 stock dividend on comm he market price of the stock was $24 per share . The dividend quali