Occidental produce company has 40000 shares of common stock

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Reference no: EM13451505

Occidental Produce Company has 40,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $0.01 par value; the preferred stock is 4% non-cumulative, with $100 par value. On October 15, 2014, the company declares a total dividend payment of $40,000. What is the total amount of dividends that will be paid to the common shareholders?

$40,000
$32,000
$ 400
$ 4,500
None of these is correct

Reference no: EM13451505

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