On 30 june 2014 the directors declared an ordinary dividend, Ask an Expert

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The total number of shares on offer through the rights issue was 10 million, with total expected subscriptions of $35 million. At the time of the rights issue, there were 25 million ordinary shares issued and fully paid up in the company.

On 30 June 2014, the directors declared an ordinary dividend of $0.05 per share. The company's constitution gave them the power to make such a declaration legally binding.

I know the final ordinary dividend declared should be $0.05 per share @ the total number of shares. But I am not sure about the number. I want to know whether the total number is 10 million shares of rights issue plus 25 million ordinary shares or 25 million ordinary shares only.

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Accounting Basics, Accounting

Category:- Accounting Basics
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