Batista Corporation has been incorporated for 30 years. Its current paid-in capital is shown to the right. Batista has been expanding its operations; its board of directors declared a small dividend of $7,900 in 2009 and no dividend in 2010. The expansion was a success, and profits have increased. On December 3, 2011, the board of directors declared a dividend of $726,300 to stockholders on record at December 22, 2011, to be paid on December 29, 2011.
Paid-in capital for Batista Corporation:
Preferred stock, $20 par, 7%, 18,000 shares authorized,
11,000 shares issued and outstanding.............................................$220,000
Common stock, $3 par, 300,000 shares authorized,
225,000 shares issued, 215,000 shares outstanding..........................675,000
Additional paid-in capital-preferred stock.....................................154,000
Additional paid-in capital-common stock......................................258,000
Total paid-in capital......................................................................$1,307,000
Determine the annual preferred dividend, assuming the number of shares of preferred stock issued and outstanding has not changed for the past three years: $ × % × shares = $
How much dividend is in arrears for 2009? $
How much dividend is in arrears for 2010? $
Use the information in the above table and calculated to the above to complete the table below to illustrate the distribution of the 2011 dividend.

After you have determined the dividends available to the common stockholders, calculate the dividend per share to be paid to each common stockholder. If required, round the per share amount to the nearest cent.

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Total 2011 dividend declared 2009 Dividends in arrears for 2009 2010 Dividends in arrears for 2010 2011 Current dividend Total preferred dividends Dividends to common stockholders %24 %24 %24