Question

Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York, that offers banking, insurance, and wealth management services. It pays cash dividends quarterly and also issues stock dividends periodically.
1. At March 31, 2012, Tompkins had 11,233,280 issued shares with a par value of $.10 per share and 93,433 shares held in treasury. On April 25, 2012, the company announced that its Board of Directors approved payment of a regular quarterly cash dividend of $.36 per share, payable on May 15, 2012, to common shareholders of record on May 7, 2012. Assume no shares were acquired or sold by the company after March 31. Give the journal entry to record the declaration of the cash dividend.
2. At December 31, 2009, Tompkins had 9,785,265 issued shares with a par value of $.10 per share and 81,723 shares held in treasury. On January 27, 1010, the company announced that its board of directors approved payment of a regular quarterly cash dividend of $.3091 per share, payable on February 25, 2010, to common shareholders of record on February 5, 2010. The board also approved the payment of a 10% stock dividend distributable on February 25, 2010, to common shareholders of record on February 5, 2010. The share price was $36.93 when the stock dividend was issued. Assume no shares were acquired or sold by the company after December 31. Prepare the journal entry to record Tompkins’ stock dividend.
3. Tompkins issued 10% stock dividends in 1995, 2003, 2005, 2006, and 2010. In 1998 Tompkins issued a three-for-two split. If an investor purchased 100 shares in 1994, how many shares would the investor have in 2012?



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  • CreatedFebruary 20, 2015
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