No-par preferred stock has no stated face value, but its annual dividend is stated as a percentage of the market value.

Name: No-par preferred stock has no stated face value, but its annual dividend is stated as a percentage of the market value.
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No-par preferred stock has no stated face value, but its annual dividend is typically stated as a dollar amount per share, not as a percentage of the market value.

No-Par Preferred Stock Has No Stated Face Value, but Its