aracruz2000

28 aracruz celulose sa notes to consolidated

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Unformatted text preview: n the above basis taking into consideration the Dividend Ratio between Class A and Class B preferred stock and common stock. However, the per share amounts have been rounded to two decimal places. The following presents the earnings per share calculations: 1998 Less priority Class A preferred stock dividends Less Class B preferred stock and common stock dividends up to the Class A preferred stock dividends on a per-share basis while maintaining the Dividend Ratio 2000 3,447 Net income 1999 90,773 201,711 (3,561 ) 114 Remaining net income to be equally allocated to Class A and Class B preferred stock and common stock while maintaining the Dividend Ratio (2,429 ) (2,219 ) (57,308 ) (52,429 ) 31,036 147,063 Weighted average number of shares outstanding (thousands) Class A preferred Class B preferred Common 41,007 564,374 454,908 40,979 553,279 454,908 40,903 552,889 454,908 Basic and diluted earnings per share Class A preferred Class B preferred Common 0.09 0.00 0.00 0.09 0.09 0.08 0.20 0.20 0.18 Brazilian law permits the payment of cash dividends only from retained earnings and certain reserves registered in the Company's statutory accounting records. At December 31, 2000, after considering appropriated retained earnings which can be transferred to unappropriated retained...
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.

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