경희대 재무관리 Essentials of Corporate Finance "7장" 정리
- 최초 등록일
- 2021.11.25
- 최종 저작일
- 2021.06
- 6페이지/
한컴오피스
- 가격 3,000원
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목차
1. Cash Flow to Stockholders
2. Stock valuation
1) The general case
2) Constant growth case
3) Non-Constant growth
3. Dividend Characteristics
4. Preferred Stock Characteristics
본문내용
Cash Flow to Stockholders
If you buy a share of stock, you can receive cash in two ways
1. The company pays dividends
2. You sell your shares, either to another investor in the market or back to the company As with bonds, the price of the stock is the present value of these expected cash flows
* cf) IF dividends are expected at regular intervals forever, then this is like preferred stock and is valued as a perpetuity
EX 7.2 The Hedless Corporation has just paid a dividend of $3 per share. The dividend of this company grows at a steady rate of 8 percent per year. Based on this information, what will the dividend be in five years?
Q. Suppose Big D, Inc. just paid a dividend of $ .50. It is expected to increase its dividend by 2% per year. If the market requires a return of 15% on assets of this risk, how much should the stock be selling for?
참고 자료
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