Family Foods, Inc. has a preferred stock issue outstanding that has a par value per share of $75.00. This preferred stock pays an annual divided that is 10% of its par value. Calculate the annual dividend paid per share on this preferred stock.

Intermediate Financial Management (MindTap Course List)
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Chapter8: Basic Stock Valuation
Section: Chapter Questions
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Family Foods, Inc. has a preferred stock issue outstanding that has a par value per share of $75.00.  This preferred stock pays an annual divided that is 10% of its par value.  Calculate the annual dividend paid per share on this preferred stock.

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