The Board of Directors of Fedex Company decided to declare a dividend whereby ordinary shareholders are to receive a total per share dividend of P5. Preference shares P100 par, 10%, participating up to 15%, non-cumulative 50,000 shares issued 5,000,0 Ordinary shares P10 par, 800,000 shares issued 8,000,0 Share premium 2,600,0 Retained earnings 7,500,0 What total amount of dividend must be declared to meet the per share goal of the board of directors?
The Board of Directors of Fedex Company decided to declare a dividend whereby ordinary shareholders are to receive a total per share dividend of P5. Preference shares P100 par, 10%, participating up to 15%, non-cumulative 50,000 shares issued 5,000,0 Ordinary shares P10 par, 800,000 shares issued 8,000,0 Share premium 2,600,0 Retained earnings 7,500,0 What total amount of dividend must be declared to meet the per share goal of the board of directors?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:The Board of Directors of Fedex Company decided to declare a dividend
whereby ordinary shareholders are to receive a total per share dividend of P5.
Preference shares P100 par, 10%, participating up to 15%, non-cumulative 50,000
shares issued
5,000,000
Ordinary shares P10 par, 800,000 shares issued
Share premium
8,000,000
2,600,000
Retained earnings
7,500,000
What total amount of dividend must be declared to meet the per share goal of
the board of directors?
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