Discuss how a corporation records the declaration of a property dividend.

Here is a tip:
When the dividends declared are paid by shares of stock, it is known as a stock dividend.

Explanation
When shares of one class are issued as dividends to the same class, they are ordinary stock dividends and when shares of one class are issued as dividends to another class, they are special stock dividends.

Verified Answer
When shares of common stock are declared as dividends for the common shares, it is known as ordinary stock dividend.

When shares of preferred stock are declared as dividends for the preferred shares and when shares of common stock are declared as dividends for the common shares, it is known as a special stock dividend.