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Calculating dividends for common stockholders

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Quincy Inc. has 20,000 shares of $10 par value common stock and 1,000 shares of $100 par value, 9% cumulative preferred stock. No dividends were paid the previous year. This year Quincy wishes to distribute $30,000 in cash dividends. How much would the common stockholders receive?

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The solution helps in estimating dividends to common stockholders.

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Payments to Preferred stock holders = Dividend rate *Par Value * ...

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