What growth rate is expected for the company stock price

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Reference no: EM13947431

The stock price of Jenkins Co. is $53.90. Investors require a 13 percent rate of return on similar stocks.

Required: If the company plans to pay a dividend of $3.60 next year, what growth rate is expected for the company’s stock price? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Growth Rate = ?%

Reference no: EM13947431

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