Question
The shareholders equity of MLS Enterprises includes $130 million of no par common stock and $260 million of 5% cumulative preferred stock. The board of
The shareholders equity of MLS Enterprises includes $130 million of no par common stock and $260 million of 5% cumulative preferred stock. The board of directors of MLS declared cash dividends of $30 million in 2013 after paying $11 million cash dividends in both 2012 and 2011.
What is the amount of dividends common shareholders will receive in 2013? (Enter your answers in millions (i.e., 10,000,000 should be entered as 10). Annual perferred dividend Par value perferred stock dividend rate Annual Preferred Dividend $260 5% 13
Total cash dividend pd paid to preferred paid to common dividends in arrears at year end 2011 11 11 0 ____________ 2012 11 11 0 ________________ 2013 30 _________ ________ ____________ Totals
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