The Royal Bank of Canada has a noncumulative class of preferred shares with a dividend rate of

Question:

The Royal Bank of Canada has a noncumulative class of preferred shares with a rate of $1.125. Assad David owns 1,000 of these shares. If the Royal Bank declares and pays a on these shares, how much can Assad expect to receive each quarter?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...