NO.PZ2024022701000140
问题如下：
All else being equal, which of the following preference shares pays the lowest dividend?选项：
A.Putable B.Callable C.Non-callable解释：
Solution-
Correct because from an investor's point of view, putable common or preference shares are less risky than their callable or non-callable counterparts because they give the investor the option to sell the shares to the issuer at a pre-determined price. As a result, putable shares generally pay a lower dividend than non-putable shares.
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Incorrect because callable common or preference shares are riskier than their non-callable counterparts because the issuer has the option to redeem the shares at a pre-determined price. Callable shares generally pay a higher dividend to compensate investors for the risk that the shares could be called in the future.
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Incorrect because from an investor's point of view, putable common or preference shares are less risky than their callable or non-callable counterparts because they give the investor the option to sell the shares to the issuer at a pre-determined price. The lower risk of putables shares results in a lower dividend than non-callable shares.
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老师好 -
请问 - between call preference and non call prefernce shares - which one would pay lower dividend?
given non call preference shares is less risky than call preference towards an investor -- so is it right to say non call preference share would pay a lower dividend comparing call preference shares?
谢谢！
