Answer to Question #334505 in Finance for thapelo

Question #334505

age Petal has paid annual dividends of R0,32, R0,48, and R0,60 a share over the past three years, respectively. The company now predicts that it will maintain a constant dividend since its business has levelled off and sales are expected to remain relatively flat. Given the lack of future growth, you will buy this stock only if you can earn at least a 16% rate of return. What is the maximum amount you are willing to pay for one share of this stock today?


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