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The following balances regarding the issued shares were extracted from t...
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The following balances regarding the issued shares were extracted from the accounting records of Celtic Ltd for the year ended 28 February 2025:
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R
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2 500 000 Ordinary shares
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7 500 000
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250 000 6% Preference shares
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400 000
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Celtic Ltd was incorporated with the following authorised share capital:
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5 000 000 Ordinary shares
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500 000 6% Preference shares
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On 1 July 2024 the shareholders authorised an additional 80 000 6% preference share issue to the public at R4 per share. Dividends on ordinary shares, at 4c per share, should still be provided for. No dividends were declared or paid during the previous financial year.
Required:
The dividend on 6% preference shares at 28 February 2025 will be?