Suppose you know that a company’s stock currently sells for $63 per share and the required return on the stock is 13 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. It's the company’s policy to always maintain a constant growth rate in its dividends.
What is the current dividend per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Current dividend per share $