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Dividends due the preferred shareholders

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Reference no: EM132038980

The board of directors of Micro-Fine Fabricators, Inc., has declared a dividend of $16,000,000. The company has 800,000 shares of preferred stock that pay $4.90 per share and 8,200,000 shares of common stock. What are the dividends due the preferred shareholders? What is the dividend per share of common stock? Please help me with this problem.

Reference no: EM132038980

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