The shareholders\' equity of MLS Enterprises includes $300 million of no par com

Question

The shareholders' equity of MLS Enterprises includes $300 million of no par common stock and $600 million of 6% cumulative preferred stock. The board of directors of MLS declared cash dividends of $74 million in 2018 after paying $32 million cash dividends in both 2017 and 2016. 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 10).) Par Value Dividend Rate (%) Annual Preferred Dividend Preferred Stock Annual Preferred Dividend: Total Cash Dividends in Arrears at year-end Paid to Preferred Paid to Common 2016 2017 2018 Total

Explanation / Answer

Par Value Preferred Stock Dividend Rate (%) Annual Preferred Dividend Annual Preferred Dicvidend : 600,000,000 6% 36,000,000 Total Cash Dividend Paid Paid to Preferred Paid to Common Dividends in Arrears at year end 2016 32,000,000 32,000,000 0 4,000,000 2017 32,000,000 32,000,000 0 8,000,000 2018 74,000,000 44,000,000 30,000,000 0 Total 138,000,000 108,000,000 30,000,000

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