The company’s market capitalization as at December 31, 2019 was $750m and the outstanding shares at the same date was 40m and the authorized shares were 50m. The company also has 12m preference at par value of $1.10 each with 9.5 percent interest rate per annum. The par value for its equity shares was $2.70 each and net income before preference dividend as at December 31, 2019 was $45m and dividend payment for the current period was $6m. The value of the company’s non-current assets were $470m and the total liabilities were $65m. Required: What is the quarterly dividend payments preference shareholders received from the company?
The company’s market capitalization as at December 31, 2019 was $750m and the outstanding shares at the same date was 40m and the authorized shares were 50m. The company also has 12m preference at par value of $1.10 each with 9.5 percent interest rate per annum. The par value for its equity shares was $2.70 each and net income before preference dividend as at December 31, 2019 was $45m and dividend payment for the current period was $6m. The value of the company’s non-current assets were $470m and the total liabilities were $65m. Required: What is the quarterly dividend payments preference shareholders received from the company?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19P: Anoka Company reported the following selected items in the shareholders equity section of its...
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The company’s market capitalization as at December 31, 2019 was $750m and the outstanding shares at the same date was 40m and the authorized shares were 50m. The company also has 12m preference at par value of $1.10 each with 9.5 percent interest rate per annum. The par value for its equity shares was $2.70 each and net income before preference dividend as at December 31, 2019 was $45m and dividend payment for the current period was $6m. The value of the company’s non-current assets were $470m and the total liabilities were $65m.
Required:
What is the quarterly dividend payments preference shareholders received from the company?
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