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Please find a dividend-paying stock, and use the DDM to compute its intrinsic value. B C D E F G . H L K L

Please find a dividend-paying stock, and use the DDM to compute its intrinsic value.

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B C D E F G . H L K L M N 0 P R S T U V W x Company name 2 input call result cel - Scenario 1 5 normalcase 2016 0 2012 2018 2019 2020 2021 O 0 0 0 0 F ADIV/OI ADIVOI DIVI VAI PADIV/01 / OVO F 2022 0.00 2023 0.00 2024 0.00 2025 0.00 2028 0.00 2027 0.00 2028 0.00 2029 0.00 year Dividend Growth rate PV INTRINSIC VALUE 2030 0.00 Terminal Value 2031 2031 0.00 0.00 ADIV/OI 0.00 ADIVOI #/ Growth rate 05 next 5 years 0% 5 10 10 years ak after 10 years OX Discount rate Terminal multiple in USD 0.00 0.CO 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/0! 2016 2022 0.00 2023 0.00 2017 2018 2019 2020 2021 0 0 D F ADIVO! ADIVO NOIVO Novo HIV/0! ! ! / 0! 2024 0.00 2025 0.00 2026 0.00 2027 0.00 2028 0.00 2029 0.00 2030 0.00 2031 0.00 U 0 1 Scenario 2 2 best case 3 4 in USD 5 6 0 year Dividend Growth rate pv Present value sum Terminal Value Growth rate 20310next 5 years 0.00 0% 0% 5 to 10 years NDIV/0! 0%ter 10 years 0 ADIVOI 0% Discount Terminal multiple F 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/01 2016 2023 2022 0.00 2017 2018 2019 2020 2021 0 0 0 0 ADIV/0! #DIV/0! OVO! V/0! #DIV/0! 0! / #OI! # 2024 O.CO 2025 0.00 2026 0.00 2027 0.00 2028 0.00 2029 3.00 2030 0.00 7 a Scenario 9 worst case D 1 in USD 2 3 0.00 year Dividend Growth rate PV Present value sur Terminal Value Growth rate 2031 2031 ax next 5 years 0.00 0.00 OK OM 5 to 10 years #DIV/0! 0% after 10 years 0.00 RIVO! 0% Discount rate ADIV/ % Terminal multiple F 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/0! 4 5 E 2 & Scenariu Scenaria 1 normal case) Scenario 2 (best casa Scenario 3 (Wors: case Probability PV Part ADIV/OI ADIV/OI ADIV/OI DIV/OI / 0 U DIV/0!DIV/0! /0 Sum #DIV/0! 1 9 C21 x v fx =SUM(B21:B24) A B D E F 3.7 1 2 2 3 1 0.9 0.9 4 0.9 3.6 5 6 7 8 3.3 5-Oct-21 2-Jul-21 5-Apr-21 5-Jan-21 5-Oct-20 2-Jul-20 3-Apr-20 3-Jan-20 3-Oct-19 3-Jul-19 4-Apr-19 3-Jan-19 4-Oct-18 5-Jul-18 5-Apr-18 4-Jan-18 5-Oct-17 3-Jul-17 4-Apr-17 4-Jan-17 4-Oct-16 1-Jul-16 4-Apr-16 4-Jan-16 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2.48 0.9 0.9 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.56 0.56 0.56 0.56 0.5 0.5 0.48 0.48 0.48 0.44 0.44 2.04 1.84 25 26 B C D E F G . H L K L M N 0 P R S T U V W x Company name 2 input call result cel - Scenario 1 5 normalcase 2016 0 2012 2018 2019 2020 2021 O 0 0 0 0 F ADIV/OI ADIVOI DIVI VAI PADIV/01 / OVO F 2022 0.00 2023 0.00 2024 0.00 2025 0.00 2028 0.00 2027 0.00 2028 0.00 2029 0.00 year Dividend Growth rate PV INTRINSIC VALUE 2030 0.00 Terminal Value 2031 2031 0.00 0.00 ADIV/OI 0.00 ADIVOI #/ Growth rate 05 next 5 years 0% 5 10 10 years ak after 10 years OX Discount rate Terminal multiple in USD 0.00 0.CO 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/0! 2016 2022 0.00 2023 0.00 2017 2018 2019 2020 2021 0 0 D F ADIVO! ADIVO NOIVO Novo HIV/0! ! ! / 0! 2024 0.00 2025 0.00 2026 0.00 2027 0.00 2028 0.00 2029 0.00 2030 0.00 2031 0.00 U 0 1 Scenario 2 2 best case 3 4 in USD 5 6 0 year Dividend Growth rate pv Present value sum Terminal Value Growth rate 20310next 5 years 0.00 0% 0% 5 to 10 years NDIV/0! 0%ter 10 years 0 ADIVOI 0% Discount Terminal multiple F 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/01 2016 2023 2022 0.00 2017 2018 2019 2020 2021 0 0 0 0 ADIV/0! #DIV/0! OVO! V/0! #DIV/0! 0! / #OI! # 2024 O.CO 2025 0.00 2026 0.00 2027 0.00 2028 0.00 2029 3.00 2030 0.00 7 a Scenario 9 worst case D 1 in USD 2 3 0.00 year Dividend Growth rate PV Present value sur Terminal Value Growth rate 2031 2031 ax next 5 years 0.00 0.00 OK OM 5 to 10 years #DIV/0! 0% after 10 years 0.00 RIVO! 0% Discount rate ADIV/ % Terminal multiple F 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 ADIV/0! 4 5 E 2 & Scenariu Scenaria 1 normal case) Scenario 2 (best casa Scenario 3 (Wors: case Probability PV Part ADIV/OI ADIV/OI ADIV/OI DIV/OI / 0 U DIV/0!DIV/0! /0 Sum #DIV/0! 1 9 C21 x v fx =SUM(B21:B24) A B D E F 3.7 1 2 2 3 1 0.9 0.9 4 0.9 3.6 5 6 7 8 3.3 5-Oct-21 2-Jul-21 5-Apr-21 5-Jan-21 5-Oct-20 2-Jul-20 3-Apr-20 3-Jan-20 3-Oct-19 3-Jul-19 4-Apr-19 3-Jan-19 4-Oct-18 5-Jul-18 5-Apr-18 4-Jan-18 5-Oct-17 3-Jul-17 4-Apr-17 4-Jan-17 4-Oct-16 1-Jul-16 4-Apr-16 4-Jan-16 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2.48 0.9 0.9 0.9 0.9 0.9 0.8 0.8 0.8 0.8 0.56 0.56 0.56 0.56 0.5 0.5 0.48 0.48 0.48 0.44 0.44 2.04 1.84 25 26

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