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Business, 26.02.2020 21:30 nathangirnet

Storico Co. just paid a dividend of $2.10 per share. The company will increase its dividend by 20 percent next year and will then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. If the required return on Storico stock is 11 percent, what will a share of stock sell for today? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e. g., 32.16))

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Storico Co. just paid a dividend of $2.10 per share. The company will increase its dividend by 20 pe...
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