.38AACSB:AnalyticBloom's:AnalysisDifficulty:IntermediateLearningObjective:07-01Assesshowstockpricesdependonfuturedividendsanddividendgrowth.РSection:7.1Topic:IrregulardividendsAtlasHomeSupplyhaspaidaconstantannualdividendof$2.40ashareforthepast15years.Yesterday,thefirmannouncedthedividendwillincreasenextyearby10percentandwillstayatthelevelthroughyearthree,afterwhichtimethedividendswillincreaseby2percentannually.Therequiredreturnonthisstockis12percent.Whatisthecurrentvaluepershare?Р$25.51$26.08$24.57$26.02$26.84P3=($2.401.101.02)/(0.12-0.02)=$26.928P0=(($2.401.10)/1.12}+(($2.401.1)/1.122}+([($2.401.1)+$26.928]/1.123}=$25.51AACSB:AnalyticBloom's:AnalysisDifficulty:IntermediateLearningObjective:07-01Assesshowstockpricesdependonfuturedividendsanddividendgrowth.РSection:7.1Topic:Irregulargrowth
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