Chapter 18 Saved Help Save & Exit Submit 2 Check my work 3 The shareholders\' eq

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Chapter 18 Saved Help Save & Exit Submit 2 Check my work 3 The shareholders' equity of MLS Enterprises includes $240 million of no par common stock and $480 million of 5% cumulative preferred stock. The board of directors of MLS declared cash dividends of $52 million in 2018 after paying $22 million cash dividends in both 2017 and 2016 2 points What is the amount of dividends common shareholders will receive in 2018? (Enter your answers in millions (i.e., 10,000,000 should be entered as 1O).) eBook Par Value Preferred Stock Annual Preferred Dividend Print Dividend Rate (%) References Annual Preferred Dividend: Total Cash Dividend Paid Dividends in Arrears at year-end Paid to Preferred Paid to Common 2016 2017 2018 Total 0 0 0

Explanation / Answer

Par Value Preferred Stock Dividend Rate (%) Annual Preferred Dividend Annual Preferred Dividend : 480,000,000 5% 24,000,000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in arrears at year end 2016 22,000,000 22,000,000 0 2,000,000 2017 22,000,000 22,000,000 0 4,000,000 2018 52,000,000 28,000,000 24,000,000 0 Total 96,000,000 78,000,000 24,000,000

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