Rosemary Wyatt bought preferred stock issued by General Products, Inc. The stock has a par value of $100 and pays 7 percent. The dividend for this preferred stock issue is

Name: Rosemary Wyatt bought preferred stock issued by General Products, Inc. The stock has a par value of $100 and pays 7 percent. The dividend for this preferred stock issue is
Brand: Quizplus
Rating: 4.7 (54 reviews)

Question

Quizplus · Accepted Answer

The dividend for the preferred stock is calculated as a percentage of its par value. Here, it's 7 percent of $100, which equals $7.00.

Rosemary Wyatt Bought Preferred Stock Issued by General Products, Inc