The Pepsi Company is not expected to pay any dividends for the next 4 years. Beginning 5 years from today, investors expect to receive a dividend of $1.25 per share for 5 years and then a dividend of $2 per share for each of the next 6 years. Then dividends are expected to grow at 4% per year forever. If investors require a 12% return, what is the price per share? Company is not expected to pay any dividends for the next 4 years. Beginning 5 years from today, investors expect to receive a dividend of $1.25 per share for 5 years and then a dividend of $2 per share for each of the next 6 years. Then dividends are expected to grow at 4% per year forever. If investors require a 12% return, what is the price per share?