Question: Rutherford Corporation has 20 000 shares of its 100 par value
Rutherford Corporation has 20,000 shares of its $100 par value, 7 percent cumulative preferred stock outstanding and 100,000 shares of its $1 par value common stock outstanding. In Rutherford’s first four years of operation, its board of directors paid the following cash dividends: 2011, none; 2012, $240,000; 2013, $280,000; 2014, $280,000. Determine the dividends per share and total cash dividends paid to the preferred and common stockholders during each of the four years.
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