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Combined Communications is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 23 percent a year for the next 4 years and then decreasing the growth rate to 5 percent per year. The company just paid its annual dividend in the amount of $1.30 per share. What is the current value of one share of this stock if the required rate of return is 8.75 percent?

a. $50.91

b. $55.16

c. $58.65

d. $66.71

e. $64.72

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92165616

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