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Category > Accounting Posted 17 May 2017 My Price 3.00

Calculating Cost of Equity

Calculating Cost of Equity The Devon Co. just issued a dividend of $2.40 per share on its common stock. The company is expected to maintain a constant 5.5 percent growth rate in its dividends indefinitely. If the stock sells for $52 a share, what is the company’s cost of equity?

 

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Alpha Geek
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Status NEW Posted 17 May 2017 12:05 PM My Price 3.00

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file 1495025945-Answer.docx preview (75 words )
C-----------alc-----------ula-----------tin-----------g C-----------ost----------- of----------- Eq-----------uit-----------y T-----------he -----------Dev-----------on -----------Co.----------- ju-----------st -----------iss-----------ued----------- a -----------div-----------ide-----------nd -----------of -----------$2.-----------40 -----------per----------- sh-----------are----------- on----------- it-----------s c-----------omm-----------on -----------sto-----------ck.----------- Th-----------e c-----------omp-----------any----------- is----------- ex-----------pec-----------ted----------- to----------- ma-----------int-----------ain----------- a -----------con-----------sta-----------nt -----------5.5----------- pe-----------rce-----------nt -----------gro-----------wth----------- ra-----------te -----------in -----------its----------- di-----------vid-----------end-----------s i-----------nde-----------fin-----------ite-----------ly.----------- If----------- th-----------e s-----------toc-----------k s-----------ell-----------s f-----------or -----------$52----------- a -----------sha-----------re,----------- wh-----------at -----------is -----------the----------- co-----------mpa-----------nyâ-----------€™s----------- co-----------st -----------of -----------equ-----------ity-----------? -----------Ans-----------wer----------- S-----------toc-----------k p-----------ric-----------e =----------- Di-----------vid-----------end----------- pe-----------r s-----------har-----------e p-----------aid----------- * -----------(1 -----------+ D-----------ivi-----------den-----------d g-----------row-----------th)----------- / -----------(Co-----------st -----------of -----------equ-----------ity----------- -Â----------- Di-----------vid-----------end----------- gr-----------owt-----------h) -----------=&a-----------mp;-----------gt;----------- $5-----------2 =----------- $2-----------.40----------- * -----------(1 -----------+ 5----------- -----------
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