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Determine the implied growth rate of gldc dividends

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Reference no: EM133140320

Question - The common stock of General Land Development Company (GLDC) is expected to pay a dividend of $1.5 next year and currently sells for $22. Assume that the firm's future dividend payments are expected to grow at a constant rate for the foreseeable future. Determine the implied growth rate of GLDC's dividends (and earnings), assuming that the required rate of return of investors is 11 percent.

Reference no: EM133140320

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