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Suppose you know that a company s stock currently sells for $ 6 5 . 8 0 per share and the required return on the

Suppose you know that a companys stock currently sells for
$65.80 per share and the required return on the stock is 11
percent. You also know that the total return on the stock is evenly
divided between capital gains yield and dividend yield. If its the
companys policy to always maintain a constant growth rate in its
dividends, what is the current dividend per share?(Do not round intermediate calculations and round your
answer to 2 decimal places, e.g.,32.16.)

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