The price of a company's share is currently $40 ex div. The latest dividend is $3.00 per share.
If the company's cost of equity is 10% pa, what is the implicit constant annual dividend growth rate?
The correct answer is: 2.33%.
The implicit dividend growth rate can be calculated using the Dividend Valuation Model.
$4 = $3 + 3g + 40g
$1 = 43g
Therefore g = 1/43 or 2.33%
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