UBL Financial Group provides personal and commercial banking, wealth management services, insurance, and corporate
and investment banking. On March 3, 2017, the company announced that its board of directors had declared a stock dividend, which has the same effect as a two-for-one split of its common shares. The board of directors also declared a quarterly common share cash dividend of $0.52 per share, which represents $0.26 per share on a post-stock dividend basis. The stock dividend, as well as the cash dividend of $0.26, were payable on May 24, 2017, to common shareholders of record on April 25, 2017.
what would the journal entriesofdeclaration of stock dividend./declaration of cash dividend. /issuance of shares to current shareholders as common stock dividend./ payment of cash dividend.
be?if the company has 1.3 million shares outstanding with a market value of $13.25 per share and an average issue price of $5.60.