Determine dividend per share paid on the stock

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Reference no: EM131796354

Question: Gontier Corporation stock currently sells for $65.08 per share. The market requires a return of 10 percent on the firm's stock.

If the company maintains a constant 4.5 percent growth rate in dividends, what was the most recent dividend per share paid on the stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131796354

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