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hello Sir,
in part a (ii) while calculating the market value of equity using the net asset value why preference share has been deducted ?
and in part d requiring the factors affecting the div. policy one of the factor is the covenants attached to the loan agrrement.how ?
plz explain the above two points1) Equity only ever refers to ordinary shares (not to preference shares).
2) When they issued the bonds, they may have agreed some limits on dividend payments. If they did, then of course this will affect the dividends that they are allowed to pay.
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