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Suppose you know a company's stock currently sells for $70 per share and the required return on the stock is 16 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. If it's the company's policy to always maintain a constant growth rate in its dividends, the current dividend is $__________ per share. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16))

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Financial Management, Finance

Category:- Financial Management
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