Greg's Grocery, Inc. has 46,000 shares of common stock outstanding and 4,000 shares of preferred...
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Greg's Grocery, Inc. has 46,000 shares of common stock outstanding and 4,000 shares of preferred stock outstanding. The common stock is $0.10 par value; the preferred stock is 7% noncumulative with a $100.00 par value. On October 15, 2017, the company declares a total dividend payment of $51,000. What is the amount of dividend that will be paid for each share of common stock? (Round your answer to the nearest cent.) A. $45.00 B. $0.50 C. $0.90 D. $4.50
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