Robbins Petroleum Company is three years in arrears on cumulative preferred stock dividends. There are 870,000 preferred shares outstanding, and the annual dividend is $8.50 per share. The Vice-President of Finance sees no real hope of paying the dividends in arrears. She is devising a plan to compensate the preferred stockholders for 70 percent of the dividends in arrears.
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Home » Business » Robbins Petroleum Company is three years in arrears on cumulative preferred stock dividends. There are 870,000 preferred shares outstanding, and the annual dividend is $8.50 per share.