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Use the following formula to answer problems on shareholder returns, where Pt is the share price at time, t, and Dt is the dividend paid

image text in transcribedimage text in transcribed Use the following formula to answer problems on shareholder returns, where Pt is the share price at time, t, and Dt is the dividend paid at time t. Shareholderreturn=P1D2+P1P2P1 4.6 Microsoft's Dividend Yield. In January 2003, Microsoft announced that it would begin paying a dividend of $0.16 per share. Given the following share prices for Microsoft stock in the recent past, how would a constant dividend of $0.16 per share per year have changed the company's return to its shareholders over this period

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