Suppose you know that a company’s stock currently sells for $65 per share and the required return on the stock is 15 percent. you also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. if it’s the company’s policy to always maintain a constant growth rate in its dividends, what is the current dividend per share? (do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

Current dividend = $57.35

Explanation:

Given:

Company’s stock currently sells for $65 per share

The required return on the stock = 15%

Required return =

Required return = Dividend yield + Capital gains

15% =

Dividend yield = 7.5% , Capital gains = 7.5%

Now we will compute the current dividend as follow:

Dividend yield =

Current dividend =

Current dividend = $57.35

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