Question
An all-equity-financed firm plans to grow at an annual rate of at least 11%. Its return on equity is 19%. What is the maximum possible
| An all-equity-financed firm plans to grow at an annual rate of at least 11%. Its return on equity is 19%. What is the maximum possible dividend payout rate the firm can maintain without resorting to additional equity issues?(Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) |
| Maximum dividend payout ratio | % |
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International Financial Management
Authors: Geert Bekaert, Robert Hodrick
3rd edition
1107111820, 110711182X, 978-1107111820
