25. You are analyzing the dividend policy of Black and Decker, a manufacturer of tools and...

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25. You are analyzing the dividend policy of Black and Decker, a manufacturer of tools and appliances. The following table summarizes the dividend payout ratios, yields, and expected growth rates of other firms in the waste disposal business. Payout Dividend Expected Company Ratio (%) Yield (%) Growth (%) Fedders Maytag National Presto Toro Whirlpool Black & Decker 136482 11 37 67 4.9 15 30 2.5 239232 1.2 11.0 2.8 23.0 13.5 1.5 16.5 20.5 1.3 23.0 a. Compare Black and Decker's dividend policy to those of its peers, using the average dividend pay- out ratios and yields. b. Do the same comparison, controlling for differ- ences, in expected growth. 25. You are analyzing the dividend policy of Black and Decker, a manufacturer of tools and appliances. The following table summarizes the dividend payout ratios, yields, and expected growth rates of other firms in the waste disposal business. Payout Dividend Expected Company Ratio (%) Yield (%) Growth (%) Fedders Maytag National Presto Toro Whirlpool Black & Decker 136482 11 37 67 4.9 15 30 2.5 239232 1.2 11.0 2.8 23.0 13.5 1.5 16.5 20.5 1.3 23.0 a. Compare Black and Decker's dividend policy to those of its peers, using the average dividend pay- out ratios and yields. b. Do the same comparison, controlling for differ- ences, in expected growth.