Reference no: EM132928220
Question - TAGOGO COMPANY has been paying regular quarterly dividends of P1.50 and wants to pay the same amount in the third quarter of 2013. The following information relates to the company's equity:
Jan. 1 Shares outstanding, 500,000; P2 par (900,000 shares authorized)
Feb. 15 Issued 30,000 new shares at P10.50
Mar. 31 Paid quarterly dividends of P1.50 per share
May 12 Converted P1,000,000 of P1,000 bonds to ordinary shares at the rate of 50 shares per P1,000 bond
June 15 Issued a 10% share dividend
June 30 Paid quarterly dividends of P2 per share
Required - What is the total amount that Tagoo will have to pay in dividends in the third quarter in order to pay P2 per share?
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