Reference no: EM133308202
The Stockholders' Equity section of the Balance Sheet of Carpenter Corporation on December 31, 2021, showed Cumulative Preferred 9% Stock, $45 par (1315 shares authorized, 419 shares issued); Common Stock, $23 par (27168 shares authorized, 14184 shares issued); and Retained Earnings of $1084.
On January 3, 2022, the corporation purchased 2072 shares of its common stock at par. On May 1, 2022, the corporation resold 1573 shares of treasury stock, at $8 above par. On December 31, 2022, the corporation showed an after tax Net Income of $51340. The Board of Directors had decided to forego paying dividends in 2021. On December 31, 2022, dividends were declared and paid. Common shareholders received $2.24 per share.
Assuming no further stock transactions, the total dollar amount of Dividends paid on Cumulative Preferred Stock on December 31, 2022, is _______.