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Determine the dollar amount of dividends

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Question - On December 31, 2020, Adelphi Corporation has outstanding 1,000 shares of $100 par value, 7% cumulative and nonparticipating preferred stock, and 15,000 shares of $10 par value common stock. Preferred dividends were paid in 2018 but were not paid in 2019. During 2020, Alpha distributed $45,000 in dividends. Use this information to determine for 2020 the dollar amount of dividends that will be distributed per Common Share. Round answer to closest cent.

Reference no: EM133148625

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