Common Stock Valuation

Gontier Corporation stock currently sells for $64.88 per share. The market requires an 11 percent return on the firm's stock. Required:

If the company maintains a constant 4.50 percent growth rate in dividends, what was the most recent dividend per share paid on the stock? (Do not include the dollar sign ($). Round your answer to 2 decimal places (e.g., 32.16).) Dividend per share $


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