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Business, 07.04.2020 22:46 fluffy374747

Robinson Company has 6,000 shares of 2%, $150 par, cumulative preferred stock outstanding. Robinson did not pay dividends during 2015, 2016, or 2017, but had met its preferred dividend requirements in all prior years. Robinson Company has been profitable in 2018 and is considering a cash dividend on its common stock that would be payable in December 2018. What amount of preferred dividends would have to be paid before a cash dividend could be paid to the common stockholders?

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