determine dividend for 14,000 shares of $2.25 preferred stock.
To determine the dividend for 14,000 shares of $2.25 preferred stock, you need to multiply the number of shares by the dividend rate. The dividend rate for preferred stock is typically expressed as a percentage of the stock's par value.
Here's how you can calculate the dividend:
1. Find the dividend rate: In this case, the dividend rate is not provided. You'll need to check the stock's prospectus or any other relevant documentation to find the dividend rate. Let's assume it is 5% of the par value.
2. Calculate the par value per share: The par value is the nominal value assigned to each share of stock. If the par value is not provided, you may need to refer to the stock's prospectus or any other relevant documentation. Let's assume the par value is $100.
3. Multiply the dividend rate by the par value per share: In this case, the dividend rate is 5% of $100, which is $5.
4. Multiply the dividend per share by the number of shares: The dividend per share is $5, and you have 14,000 shares. Multiply $5 by 14,000 to get the total dividend.
The calculation will be: $5 x 14,000 = $70,000.
Therefore, the dividend for 14,000 shares of $2.25 preferred stock with a dividend rate of 5% and a par value of $100 per share would be $70,000.