Multiple Choice
Orleans Company was incorporated on 1 January 2013. Orleans issued 4 000 ordinary shares and 500 preference shares on that date. The preference shares pay annual dividends of $8 each. Orleans has not paid any dividends yet. In 2016, Orleans had its first profitable year, and on 1 November 2016, Orleans declared a total dividend of $28 000. What is the total amount that will be paid out to ordinary shareholders?
A) $16 000
B) $28 000
C) $12 000
D) $4 000
Correct Answer:
Verified
Correct Answer:
Verified
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