Stock Price Assignment

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Question 25 (4 points) Portman Industries just paid a dividend of $3.40 per share. The dividend is expected to grow by 30 percent over the next year. After that, though, Portman’s dividend is expected to grow at a constant rate of 3 percent per year indefinitely. The required rate of return for Portman’s stock is 11 percent. How much is the stock worth? Get Finance homework help today