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Esplanade Ltd has non-cumulative preference shares with a par value of N$2.00 an...
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Esplanade Ltd has non-cumulative preference shares with a par value of N$2.00 and a dividend rate of 10%. The markets required rate of return on the preference share is 12%. The preference dividend has been suspended for the past two years and it is expected that dividend payments will resume two years from today. The value of an Esplanade preference share is:
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