Subscriptions/ Courses/ ADMN919-Management Accounting / Module 8/ Module 8 Homew
ID: 2564832 • Letter: S
Question
Subscriptions/ Courses/ ADMN919-Management Accounting / Module 8/ Module 8 Homework QUESTION 5 0.00 points out of 1.00 Flag question ct Identifying and Analyzing Financial Statement Effects of Cash Dividends On its Form 10-K for the yearJended December 31, 2015, Bank of America Corp. reported the ollowing relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock Dividend Payment Date Dividend Per Share 22-Feb-16 0.25556 0.25556 0.25556 0.24722 0.25556 23-Now-15 21-May-15 here were 14.058 million shares of this preferred stock outstanding thr Round answer to the nearest million x million You have correctly selected 0.
Explanation / Answer
Dividend paid by bank of America during 2015 is $14.253 million calculated as shown below:
Payment Date Dividend Pershare No. of shares Total dividend 23-02-2015 0.25556 14.058 3.593 21-05-2015 0.24722 14.058 3.475 21-08-2015 0.25556 14.058 3.593 23-11-2015 0.25556 14.058 3.593 14.253