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What is the dividend paid by this stock

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Question:

The Bank of Ellicott City has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.65 on this stock. What is the current price of this preferred stock given a required rate of return of 13.75 percent?

The preferred stock for the Bank of Ellicott City is currently selling at $49.54. If the required rate of return is 12.5 percent, what is the dividend paid by this stock?

Reference no: EM131931521

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