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The Wayne Corporation expects to have a changing dividend policy over the next few years starting with the dividend that they just paid of $10.43.
The Wayne Corporation expects to have a changing dividend policy over the next few years starting with the dividend that they just paid of $10.43. In the following year their dividend will grow by 24.7% and in the year after by 23.4%. Following that they expect their dividends to continue growing at a constant rate of 4.2% forever. If the required rate of return for Wayne is 18.1% per year, what is the price today of Wayne shares? Answer to the nearest penny.
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