The next dividend payment by Hot Wings, Inc., will be $2.65 per share. The dividends are anticipated

Question:

The next dividend payment by Hot Wings, Inc., will be $2.65 per share. The dividends are anticipated to maintain a 4 percent growth rate forever. If the stock currently sells for $57 per share, the required return is percent. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))

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...