Johnson production company paid a dividend yesterday of 350, Financial Management

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Johnson production company paid a dividend yesterday of 350

Johnson Production Company paid a dividend yesterday of $3.50 per share. The dividend is expected to grow at a constant rate of 10% per year. The price of KayCee's common stock today is $40 per share. If KayCee decides to issue new common stock, flotation costs will equal $4.00 per share. KayCee's marginal tax rate is 35%. Based on the above information, the cost of retained earnings is:

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Financial Management: Johnson production company paid a dividend yesterday of 350

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Financial Management: Johnson production company paid a dividend yesterday of 350

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