Assume that Ritchey Industries is expected by investors to have a dividend growth rate over the foreseeable

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Assume that Ritchey Industries is expected by investors to have a dividend growth rate over the foreseeable future of 8 percent a year, and that the required rate of return for this stock is 13 percent. The current dividend being paid is $2.25. What is the estimated value of the stock?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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