Hopen Consulting has 310,000 shares of $100 par value, 8% cumulative preferred stock and 2,650,000 shares of common stock. Although no dividend was declared last year, a $6,500,000 dividend has been declared this year. After finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock
A) $0.58
B) $1.44
C) $0.62
D) $0.51
A
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