New look at preferred-stock financing
Journal Article
·
· Public Util. Fortn.; (United States)
OSTI ID:5488315
An effort by Gulf Power Company to market $10 million of preferred stock with no sinking fund is used to illustrate the author's contention that this capitalization procedure required by the national Association of Insurance Companies may not be in the best interests of either utility customers or common stockholders. A comparison of savings over a 25-year period shows that more money is saved by using a sinking fund than a perpetual preferred financng. The equity arguments made by property and casualty insuarnce companies are examined and concluded to be an unnecessary financial burden. (DCK)
- OSTI ID:
- 5488315
- Journal Information:
- Public Util. Fortn.; (United States), Journal Name: Public Util. Fortn.; (United States) Vol. 105:7; ISSN PUFNA
- Country of Publication:
- United States
- Language:
- English
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