Singing Fish Fine Foods has a current annual cash dividend policy of $3.25. The price of...
Singing Fish Fine Foods has a current annual cash dividend policy of $3.25. The price of the stock is set to yield a return of 14 %. What is the price of this stock if the dividend will be paid
a. 10 years
b. 15 years
c. 41 years
d. 60 years
e. 100 years
f. forever
I am having a tough time with the formula and would like to know how to better utilize a financial calculator. Thanks!
Homework Answers
Using the following formula in financial calculator or
excel
| a | NPER | 10 | |
| FV | 0 | ||
| PMT | 3.25 | ||
| Rate | 14% | ||
| Price of the stock | 16.95 | [-pv(rate,nper,pmt,fv,0) |
| b | NPER | 15 | |
| FV | 0 | ||
| PMT | 3.25 | ||
| Rate | 14% | ||
| Price of the stock | 19.96 | [-pv(rate,nper,pmt,fv,0) |
| c | NPER | 41 | |
| FV | 0 | ||
| PMT | 3.25 | ||
| Rate | 14% | ||
| Price of the stock | 23.11 | [-pv(rate,nper,pmt,fv,0) |
| d | NPER | 60 | |
| FV | 0 | ||
| PMT | 3.25 | ||
| Rate | 14% | ||
| Price of the stock | 23.21 | [-pv(rate,nper,pmt,fv,0) |
| e | NPER | 100 | |
| FV | 0 | ||
| PMT | 3.25 | ||
| Rate | 14% | ||
| Price of the stock | 23.21 | [-pv(rate,nper,pmt,fv,0) |
f. Price of the stock if it grows forever = 3.25 /14% = 23.214
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