Zink Industries can issue perpetual preferred stock at a price of $74.80 a share. The stock...
Zink Industries can issue perpetual preferred stock at a price of $74.80 a share. The stock would pay a constant annual dividend of $6.44 a share. What is the company’s cost of preferred stock, r p?
| a. |
7.93% |
|
| b. |
11.19% |
|
| c. |
9.42% |
|
| d. |
8.61% |
|
| e. |
11.61% |
Homework Answers
Cost of preferred stock = (Annual dividend / price) * 100
Cost of preferred stock = (6.44 / 74.8) * 100
Cost of preferred stock = 8.61%
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