Suppose GE has non-maturing (perpetual) preferred stock outstanding that pays a $0.50 quarterly dividend and has a

Question:

Suppose GE has non-maturing (perpetual) preferred stock outstanding that pays a $0.50 quarterly dividend and has a required return of 8% APR (2% per quarter). What is the stock worth (price per share)? Please show calculation. Thanks!

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...