The board of directors of Clear Communications has declared a dividend of $2,500,000. The company has 240,000 shares of preferred stock that pay $2.10 per share and 2,600,000 shares of common stock. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.

The board of directors of Clear Communications has declared a dividend of $2,500,000. The company has 240,000 shares of preferred stock that pay $2.10 per share and 2,600,000 shares of common stock. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...

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