Nu-Tek Has Preferred Stock Outstanding That Pays a Cumulative $1

Multiple Choice

Nu-Tek has preferred stock outstanding that pays a cumulative $1.50 dividend per quarter. This company has not paid any of its dividends for the past two quarters. How much must be paid as a dividend for each share of preferred stock if the company plans to pay a dividend to its common shareholders this upcoming quarter?

A) $0
B) $4.50
C) $1.50
D) $6.00
E) $3.00