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But, he added, there were more than enough profits to cover the preferred dividends.
There were no share earnings after preferred dividends in latest year.
If preferred dividends total $100,000, then that is money not available to distribute to each share of common stock.
That would represent a small loss per common share because the company must pay about $6 million a quarter in preferred dividends.
After preferred dividend requirements, there were no share earnings in 1988.
In the latest quarter and year the company had preferred dividend requirements of $12.7 million.
Preferred dividends exceeded net income for the latest full year.
Net income less preferred dividend requirements was flat at $274 million.
The company said in the latest year preferred dividends exceeded net income.
Only preferred dividends declared in the current year are subtracted.
The company said in the latest year after preferred dividends there were no earnings available for common shareholders.
Latest quarter's share earnings was after payment of preferred dividends.
Interest and preferred dividend payments would be about $600 million, a person close to Viacom said.
Preferred dividend requirements exceeded net income in the latest 6 months.
One analyst said the decision to cut the preferred dividends was an indication that a deal might not be imminent.
In the latest quarter, preferred dividend requirements exceeded final net.
After taxes, depreciation and paying preferred dividends, it ended the year with a loss of $34 million.
It posted a loss of 17 cents a diluted share after preferred dividends.
The company said preferred dividend requirements for the 1985 periods exceeded net income.
Share earnings are not given because preferred dividend requirements exceeded net income for that period.
There were no common share earnings for the periods because the net income did not cover preferred dividend requirements.
Without the one-time gains and before preferred dividends, operating net rose 15.9 percent from the $1.19 billion a year earlier.
Preferred dividends amount to $20 million a quarter.
The per-share results are after payment of preferred dividends.
The company said there were no share earnings in either period because preferred dividend requirements exceeded net income.