Gibraltar corporation has 200000 shares of 9 50 par value

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Reference no: EM13600131

Gibraltar Corporation has 200,000 shares of 9%, $50 par value cumulative preferred stock authorized, 80,000 shares issued and 75,000 outstanding, as well as 300,000 shares of $10 par value common stock issued and outstanding. Dividends relative to the preferred stock are two years in arrears. If Gibraltar declares a $2,137,500 dividend during the current period, the amount of the dividend applicable to the preferred and common stockholders?

Reference no: EM13600131

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