Question
The stock price of Jenkins Co. is $53.90. Investors require a 13 percent rate of return on similar stocks. Required: If the company plans to
The stock price of Jenkins Co. is $53.90. Investors require a 13 percent rate of return on similar stocks.
Required: If the company plans to pay a dividend of $3.60 next year, what growth rate is expected for the companys stock price? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)
Growth Rate = ?%
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Financial Management And Policy
Authors: James C. Van Horne
12th Edition
0130326577, 9780130326577
