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Category > Accounting Posted 19 Aug 2017 My Price 15.00

Sunbird Theatre Inc

PR 11-1A  Dividends on preferred and common stock                                      ObJ.  2

Sunbird Theatre Inc. owns and operates movie  theaters  throughout  Florida  and Georgia. Sunbird Theatre Inc. has declared the following annual dividends over a six-year period:  2011, $20,000;  2012, $36,000;  2013, $70,000;  2014, $90,000;  2015, $100,000 and

2016, $150,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 100,000 shares of cumulative, preferred 1% stock,

$30 par, and 400,000 shares of common stock, $20 par.

Instructions

1.     Calculate the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2011. Summarize the data in tabular form, using the following column headings:

 

Total

  Preferred Dividends                    Common Dividends     

 

Year

Dividends

Total

Per Share

Total

Per Share

2011

$ 20,000

 

 

 

 

2012

36,000

 

 

 

 

2013

70,000

 

 

 

 

2014

90,000

 

 

 

 

2015

102,000

 

 

 

 

2016

150,000

 

 

 

 

2.     Calculate the average annual dividend per share for each class of stock for the six-year period.

3.     Assuming a market price per share of $37.50 for the preferred stock and $30.00 for the common stock, calculate the average annual percentage return on initial shareholders’ investment, based on the average annual dividend per share (a) for preferred stock and (b) for common stock.

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 10:08 PM My Price 15.00

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