Find the annual dividend received by Nishita from 1200 preferred shares and 3000 common shares both of par value Rs. 50 each if the dividend paid on preferred shares is 10% and semi-annual dividend of 3$\dfrac{1}{2}$ % is declared on common shares.
Total number of preferred shares = 1200
Face value = Rs.50
dividend paid on preferred shares is 10%
Dividend per share = $\dfrac{50 \times 10}{100}$ = Rs.5
Total Dividend = 1200 × 5 = 6000
Total number of common shares = 3000
Face value = Rs.50
Semi-annual dividend of 3$\dfrac{1}{2}$% is declared on common shares.
semi-annual dividend per share = $\dfrac{50 \times 7}{2 \times 100}= Rs.\dfrac{7}{4}$
Total semi-annual dividend = $\dfrac{7}{4} \times 3000$= Rs.5250
annual dividend = Rs.5250 × 2 = Rs.10500
Total dividend on all all shares preferred and common = 6000 + 10500 = Rs.16500