公司理财精要chap007.pptVIP

7-* Finding the Required Return Example A firm’s stock is selling for $10.50. They just paid a $1 dividend and dividends are expected to grow at 5% per year. What is the required return? 7-* Finding the Required Return Example P0 = $10.50. D0 = $1 g = 5% per year. What is the required return? 7-* Finding the Required Return Example P0 = $10.50 D0 = $1 g = 5% per year What is the dividend yield? 1(1.05) / 10.50 = 10% What is the capital gains yield? g =5% Dividend Capital Gains Yield Yield 7-* Table 7.1 7-* Features of Common Stock Voting Rights Stockh