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The start of 2010, Dublin Corporation has 21,000 outstanding shares of preferred stock, each with a $32 par value and a cumulative 9% annual dividend.
The start of 2010, Dublin Corporation has 21,000 outstanding shares of preferred stock, each with a $32 par value and a cumulative 9% annual dividend. The company also has 32,000 shares of common stock outstanding with par value of $28 per share. At the beginning of 2012, the company has a 2-for-1 common stock split. The company pays total cash dividends as follows.
2008 $0
2009 $ 23,000
2010 $ 19,000
2011 $ 88,000
2012 $ 163,000
Calculate the dividends paid to each category of stockholders, in total and per share.
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