#298 The Square Hospital has been very

The Square Hospital has been very - Account and Finance

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Free Chegg Question

The Square Hospital has been very successful in the past four years. Over these years, it paid common stock dividend of $4 in the first year, $4.20 in the second year, $4.41 in the third year, and its most recent dividend was $4.63. The company wishes to continue this dividend growth indefinitely. What is the value of the company's stock if the required rate of return is 12 percent?

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Free Chegg Answer

The growth rate of dividend of the company is 5% had it could be found from pattern of the dividend.

Most recent dividend of the company has been 4.63

Stock price= (dividend expected at the end of next year)/(required rate of return- growth rate)

=(4.63(1+.05)/(12%-5%)

= $69.45