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Interim dividend

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › Interim dividend

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by P2-D2.
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    Posts
  • April 23, 2024 at 8:06 pm #704471
    grashy
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Hi…this is under ‘presentation of financial statement’ I am trying to get the figure for interim dividend as at sep 20×6

    The note to it says…during the year 4 million equity shares were issued at $0.75 each. The directors of cayman declared an interim dividend of $0.02 per share in sep 20×6. No dividends were paid during the year.

    The calculation given says interim dividend (14m x $0.02) to give 280,000

    I don’t understand the $14m.

    April 27, 2024 at 6:48 am #704601
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7172
    • ☆☆☆☆☆

    I can only assume that there were 10m shares already in issue prior to the 4m shares being issued, as then 10m plus 4m then gives the 14m. There must be additional information in the question that highlights the number of shares in issue at the start of the year.

    Thanks

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