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Shatin Intl. has 9.5 million shares, an equity cost capical of 13% and is expected to pay a total divident of $19.1 million each year
Shatin Intl. has 9.5 million shares, an equity cost capical of 13% and is expected to pay a total divident of $19.1 million each year forever. It announces that it will increase its payout to shareholders. Instead of keeping its dividends it will keep it constant and will start repurchasing $10.1 million of stock each year. What is your estimate of Shatins stock price after this announcement? In the nearest cent.
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