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How much is the total dividend declared

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Question - July Corporation has 10,000 shares of 7% 50 par preference share and 100,000 shares of 4 par value ordinary share outstanding. Two years of preference dividends are in arrears. The corporation declared a cash dividend large enough to pay the preference dividends in arrears, the preference dividend for the current year, and a 1.50 dividend to ordinary shareholders. How much is the total dividend declared?

Reference no: EM132937149

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