Connect HW $3$

$10$

Problem $9-6$ Stock Valuation

$1$

points

Suppose you know that a company's stock currently sells for $$62$ per share and the

required return on the stock is $12$ percent. You also know that the total return on the

stock is evenly divided between a capital gains yield and a dividend yield. It's the

company's policy to maintain a constant growth rate in its dividends. What is the current

dividend per share? $($Do not round intermediate calculations and round your answer to

$2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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Current dividend per share