Mannix Corporation stock currently sells for $25 per share. The market requires a return of 10.4 percent on the firm's stock. If the company maintains a constant 3.2 percent growth rate in dividends, what was the most recent dividend per share paid on the stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Mannix Corporation stock currently sells for $25 per share. The market requires a return of 10.4 percent on the firm's stock. If the company maintains a constant 3.2 percent growth rate in dividends, what was the most recent dividend per share paid on the stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter11: The Cost Of Capital

Section: Chapter Questions

Problem 8PROB

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