F.

DIVIDEND PER SHARE

CASE 1: Non-Cumulative; Non-Participating Preference Shares

PREFERENCE ORDINARY TOTAL
Outstanding
PS (300,000 sh - 100,000 sh = 200,000 sh x P20) 4,000,000
OS (800,000 sh - 200,000 sh = 600,000 sh x P10 par) 6,000,000
Dividend 5,000,000
Preference Share (4,000,000 x 10% x 1 yr) 400,000 (400,000)
Ordinary Share 4,600,000 (4,600,000)
Total Dividend 400,000 4,600,000 (5,000,000)
Divide by Outstnding shares 200,000 600,000
Dividend per share 2.00 7.67

CASE 2: Cumulative, Non-Participating Preference Shares

PREFERENCE ORDINARY TOTAL
Outstanding
PS (300,000 sh - 100,000 sh = 200,000 sh x P20) 4,000,000
OS (800,000 sh - 200,000 sh = 600,000 sh x P10 par) 6,000,000

Dividend 5,000,000
Preference Share (4,000,000 x 10% x 2 yrs.) 800,000 (800,000)
Ordinary Share 4,200,000 (4,200,000)
Total Dividend 800,000 4,200,000 -
Divide by outstanding shares 200,000 600,000
Dividend per share 4.00 7.00

CASE 3: Non-Cumulative; Participating Preference Shares

PREFERENCE ORDINARY TOTAL
Outstanding
PS 300,000 sh - 100,000 sh = 200,000 sh x P20) 4,000,000
OS (800,000 sh - 200,000 sh = 600,000 sh x P10 par) 6,000,000

Dividend 5,000,000
Preference Share (4,000,000 x 10% x 1 yr.) 400,000 (400,000)
Ordinary Share (6,000,000 x 10% x 1 yr) 600,000 (600,000)

Participating
Preference Share (4,000,000/10,000,000x 4,000,000) 1,600,000 (1,600,000)
Ordinary Share (6,000,000/10,000,000 x 4,000,000) 2,400,000 (2,400,000)
Total Dividend 2,000,000 3,000,000
Divide Outstanding shares 200,000 600,000
Dividend per Share 10.00 5.00

CASE 4: Cumulative; Participating Preference Share

PREFERENCE ORDINARY TOTAL
Outstanding
PS 300,000 sh - 100,000 sh = 200,000 sh x P20) 4,000,000
OS (800,000 sh - 200,000 sh = 600,000 sh x P10 par) 6,000,000

Dividend 5,000,000
Preference Share (4,000,000 x 10% x 2 yrs.) 800,000 (800,000)
Ordinary Share (6,000,000 x 10%) 600,000 (600,000)

Participating
Preference Share (4M/10M x 3,600,000) 1,440,000 (1,440,000)
Ordinary Share (6M/10M x 3,600,000) 2,160,000 (2,160,000)
Total Dividend 2,240,000 2,760,000
Divide by Oustanding shares 200,000 600,000
Dividend per Share 11.20 4.60