Determine the amount of dividends per share

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Reference no: EM132420202

Problem: The shareholders' equity of Nick Co. includes the items shown below. The board of directors of Nick declared cash dividends of $3.7 million, $13.5 million, and $47.5 million in each of its first 3 years of operation: 2016, 2017, and 2018, respectively.

Common stock, $1 par, 50,000,000 shares outstanding

Preferred stock, 5%, $100 par, 1,000,000 shares outstanding

Required:

Determine the amount of dividends per share on preferred and common stock for each of the three years. The preferred stock is noncumulative and nonparticipating. (Round final answers to 2 decimal places.)

Reference no: EM132420202

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