NMB Corporation has 5,000,000 ordinary shares and 1,000,000 shares of 6% P100 par value cumulative preference shares. During the recession of the past two years, NMB suspended all dividend payments. This year NMB returned to profitability, and the board of directors declared a P1 per share ordinary shares dividend to be paid at the end of the year. How much would NMB have to pay in dividends this year? a. P5,000,000 p. P11,000,000 E. P17,000,000 1. P23,000,000
NMB Corporation has 5,000,000 ordinary shares and 1,000,000 shares of 6% P100 par value cumulative preference shares. During the recession of the past two years, NMB suspended all dividend payments. This year NMB returned to profitability, and the board of directors declared a P1 per share ordinary shares dividend to be paid at the end of the year. How much would NMB have to pay in dividends this year? a. P5,000,000 p. P11,000,000 E. P17,000,000 1. P23,000,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![2. NMB Corporation has 5,000,000 ordinary shares and 1,000,000 shares of 6% P100
par value cumulative preference shares. During the recession of the past two years,
NMB suspended all dividend payments. This year NMB returned to profitability, and
the board of directors declared a P1 per share ordinary shares dividend to be paid at
the end of the year. How much would NMB have to pay in dividends this year?
a. P5,000,000
b. P11,000,000
c. P17,000,000
d. P23,000,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F163f9e28-03da-41bc-b753-886b8b38ae91%2F11b4f421-a1e7-4c34-9fe6-2d6cabad0738%2Fpodg9l_processed.jpeg&w=3840&q=75)
Transcribed Image Text:2. NMB Corporation has 5,000,000 ordinary shares and 1,000,000 shares of 6% P100
par value cumulative preference shares. During the recession of the past two years,
NMB suspended all dividend payments. This year NMB returned to profitability, and
the board of directors declared a P1 per share ordinary shares dividend to be paid at
the end of the year. How much would NMB have to pay in dividends this year?
a. P5,000,000
b. P11,000,000
c. P17,000,000
d. P23,000,000
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