Problem:
Suppose you know that a company's stock currently sells for $66.50 per share and the required return on the stock is 9 percent. You also know that the total return on the stock is evenly divided between capital gains yield and dividend yield.
Task:
Question: If it's the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?
Note: Provide specific examples to support your answers.