The company now predicts that it will maintain a constant


Snyder Corp. has paid annual dividends of $.48, $0.60, and $0.62 a share over the past three years, respectively. The company now predicts that it will maintain a constant dividend since its business has leveled off and sales are expected to remain relatively constant. Given the lack of future growth, at what price will you only buy this stock if you earn at least a 14% rate of return?

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Financial Management: The company now predicts that it will maintain a constant
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