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FinanceQ&A LibraryA company paid a dividend yesterday in the amount of $.28 a share. The company plans to double each annual dividend payment for the next three years. After that time, it plans to pay a constant $2.25 per share indefinitely. What is one share worth today if the market rate of return on similar securities is 11.5%?Question

A company paid a dividend yesterday in the amount of $.28 a share. The company plans to double each annual dividend payment for the next three years. After that time, it plans to pay a constant $2.25 per share indefinitely. What is one share worth today if the market rate of return on similar securities is 11.5%?

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