Hometown Grocery, Inc. has 41,000 shares of common stock outstanding and 5000 shares of preferred stock outstanding. The common stock is $6.00 par value; the preferred stock is 4% noncumulative with a $100.00 par value. On October 15, 2018, the company declares a total dividend payment of $55,000. What is the amount of dividend that will be paid for each share of common stock? (Round your answer to the nearest cent.)
A) $0.85
B) $24.60
C) $2460.00
D) $0.75
A) $0.85
Business
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