Company maintains constant growth rate in dividends

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Reference no: EM132018350

Firm T stock currently sells for $51.06 per share. The market requires a 11 percent return on the firm's stock, and the most recent annual dividend per share was $1.44. The company maintains a constant growth rate in dividends. What is this growth rate? Express your answer as a percentage and round to four decimal places (e.g., 15.83% = 0.1583).

Reference no: EM132018350

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