Question
In: Finance
A preferred stock from Hecla Mining Co. (HLPRB) pays $2.20 in annual dividends. If the required...
A preferred stock from Hecla Mining Co. (HLPRB) pays $2.20 in annual dividends. If the required rate of return on the preferred stock is 5.6 percent, what is the fair present value of the stock? (Round your answer to 2 decimal places. (e.g., 32.16))
Solutions
Expert Solution
Value of preferred stock = Annual dividend/Required rate of return
Value of preferred stock = $2.20/5.6%
Value of preferred stock = $39.29
jeff jeffy answered 2 years agoRelated Solutions
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