Horsehead Corporation has 200,000 share of $2 par common stock issued and outsta

Question

Horsehead Corporation has 200,000 share of $2 par common stock issued and outstanding; it has 50,000 shares of $30 par, 5%, cumulative preferred stock. Calculate the dividends paid to each class of stock

Total dividends         2011                               2012                          2013                             ` 2014

Declared & paid:     $21,000                          $90,000                   $80,000                        $150,000

Amount paid to

Preferred stock:

Amount paid to

Common Stock:

Explanation / Answer

Horsehead Corporation Details Amt $ No Of Preference share       50,000.00 Par value preference share               30.00 Preference dividend per share @5%                  1.50 Annual preference dividend       75,000.00 Details Preference dividend paid Preference dividend Arrear due Preference div. arrear paid Total preference dividend paid Common stock dividend paid Total Dividend paid Year 2011             21,000                54,000                21,000                   -            21,000 Year 2012             75,000                39,000                   15,000                90,000                   -            90,000 Year 2013             75,000                34,000                      5,000                80,000          80,000 Year 2014             75,000                         -                     34,000             109,000          41,000       150,000

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