Answered: My Inc. has a dividend growth rate of…

My Inc. has a dividend growth rate of 6%, a market price of $16 a share, and a required return of 16%. What is the amount of the last dividend this company paid?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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Question

My Inc. has a dividend growth rate of 6%, a
market price of $16 a share, and a required
return of 16%. What is the amount of the
last dividend this company paid?

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