Dividend Growth and Yield Constant Growth Model: Dividends Per Share TTM Current: 3.49 Median: 3.36 High: 3.49 Low: 3.00 CAGR: 3.2% 3.511 3.51 3.42 3.42 3.33 3.25 3.16 3.07 2.98 2017 2018 2019 2020 3.33 3.25 3.16 3.07 2.98 2021 Exxon Mobil Corp's trailing 12- month dividend per share is 3.49 and its dividend has grown at a cumulative annualized rate of 3.2% over the charted period. This compares to dividend growth of 0.30% over the past year and cumulative annualized growth of 2.60% over the past 3 years. Use the stated CAGR from the graph as the growth rate (g) for your Constant Growth Model valuation. Assume a 10.5% discount rate (R). Calculate an estimated value of a share of the stock using the Constant Growth Model (Eq. 8-3 in the e-book). By using the historical rate of growth in the dividend, the assumption is that the company will sustain its recent rate of dividend growth into the future