The Mann Company currently has 95,000 outstanding shares selling at $96 each. The firm is contemplating the
Question:
a. What will be the price of the stock on the ex-dividend date if the dividend is declared?
b. What will be the price of the stock at the end of the year if the dividend is not declared?
c. If Mann makes $2.1 million of new investments at the beginning of the period, earns net income of $1.2 million, and pays the dividend at the end of the year, how many shares of new stock must the firm issue to meet its funding needs?
d. Is it realistic to use the MM model in the real world to value stock? Why or why not?
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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Related Book For 
Corporate Finance Core Principles and Applications
ISBN: 978-0077905200
3rd edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
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