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The Johnston Company will pay an annual dividend of $2.25 next year. The company has increased its dividend by 3.25 percent a year for the
The Johnston Company will pay an annual dividend of $2.25 next year. The company has increased its dividend by 3.25 percent a year for the past twenty years and expects to continue doing so. What will a share of this stock be worth 15 years from now if the required return is 12 percent?
A) $41.55
B) $25.68
C) $38.31
D) $44.01
E) $36.19
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