Calculating the annual amount of dividends per share, Financial Accounting

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Calculating the annual amount of dividends per share

Response to the following problem:

The Manny-Hanny Corporation issued 10.96% preferred stock in 1996 with a par value of $25. A total of 4 million shares are outstanding. Calculate the total amount of dividends that Manny-Hanny must pay each year and the annual amount of dividends per share.

PLEASE SHOW CALCULATIONS ON HOW YOU ARRIVED AT YOUR ANSWER.

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Financial Accounting: Calculating the annual amount of dividends per share

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