Finance

Slater Lamp Manufacturing has an outstanding issue of preferred stock with an $80 par value and 11% annual dividend. What is the annual dollar dividend? If it is paid quarterly, how much will be paid each quarter?

  1. 👍 0
  2. 👎 0
  3. 👁 488
  1. Slater Lamp Manufacturing has an outstanding issue of preferred stock with an $80 par value and an 11% annual dividend.
    a. What is the annual dollar dividend? If it is paid quarterly, how much will be paid each quarter?
    b. If the preferred stock is noncumulative and the board of directors has passed the preferred dividend for the last 3 quarters, how much must be paid to preferred stockholders in the current quarter before dividends are paid to common stockholders?
    c. If the preferred stock is cumulative and the board of directors has passed the preferred stockholders in the current quarter before dividends are paid to common stockholders?

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. Finance

    Suppose you have been hired as a financial consultant to Defense Electronics, Inc. (DEI), a large, publicly traded firm that is the market share leader in radar detection systems (RDSs). The company is looking at setting up a

  2. financial accounting

    (5) Chapter 13 Problem The Torre Company has the following balances in stockholders equity on December 31st. Common Stock - $5.00 par, 60,000 issued $300,000 Additional paid in capital - common 600,000 Preferred stock - $100 par,

  3. Managerial Finance

    A firm has an issue of preferred stock outstanding that has a par value of $100 and a 4% dividend. If the current market price of the preferred stock is $50, the yield on the preferred stock is

  4. Advanced Algebra

    HELP! WHICH IS THE HIGHEST RISK INVESTMENT? List the following stocks and bonds in order from highest default risk to lowest default risk: A municipal bond in a city with a population of 150,000 A common stock in a company under

  1. Accounting

    A company had stock outstanding as follows during each of its first three years of operations: 2,500 shares of $10, $100 par, cumulative preferred stock and 50,000 shares of $10 par common stock. The amounts distributed as

  2. Accounting

    Gorton Corporation has 30,000 shares of $10 par value common stock outstanding when it announces a 2-for-1 stock split. Before the split, the stock had a market price of $120 per share. After the split, how many shares of stock

  3. corporate finance

    National Health Corporation (NHC) has a cumulative preferred stock issue outstanding, which has a stated annual dividend of $9 per share. The company has been losing money and has not paid preferred dividends for the last five

  4. Finance

    3. Given the following information for Janicek Power Co., find the WACC. Assume the company’s tax rate is 35%. Debt: 8,500 7.2% coupon bonds outstanding, $1000 par value, 25 years to maturity, selling for 118% of par; the bonds

  1. accounting

    Finishing Touches has two classes of stock authorized: 8%, $10 par preferred and $1 par value common. The following transactions affect stockholders' equity during 2010, its first year of operations: January 2 Issue 100,000 shares

  2. accounting

    PA11-4 Comparing Stock and Cash Dividends [LO2, LO3, LO4] Ritz Company had the following stock outstanding and Retained earnings at December 31, 2010: Common stock (par $1; outstanding, 500,000 shares) $ 500,000 Preferred stock,

  3. Finance

    Fifth National Bank just issued some new preferred stock. The issue will pay an annual dividend of $15 in perpetuity, beginning 20 years from now. If the market requires a return of 4.5 percent on this investment, how much does a

  4. Accounting

    When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Half of the preferred stock was

You can view more similar questions or ask a new question.