Osborn wants to implement a plan which includes 15 years of dividend payments growing at a certain rate and no dividends afterwards. Furthermore, Osborn does not want the stock price of at his company to be affected by this dividend policy change. The company stocks will pay $5.1 a year from today and the company stocks are currently priced at 5.5% (perpetual) growth rate. If the required rate of return is still 14%, how much annual growth should one aim to successfully implement dividend policy change.
(the calculated stock price for the previous part was 64.30 dollars)