问题如下:
Matt, CFA, is evaluating the value of Company M by using the Gordon growth model. Given the required rate of return is 10% and the stock is fairly valued. He predicts that the dividend will grow at its recent rate of 4.5% per year into the indefinite future. Which of the following statements is least correct?
选项:
A.The dividend yield of the stock is 5.5%.
B.The total return of the stock is 14.5%.
C.The capital gains yield of the stock is 4.5%.
解释:
B is correct.
考点:H-model,Sustainable Growth Rate & Dividend Growth Rate, Retention Rate, And ROE
解析:根据公式:Total return = Dividend yield + Capital gains yield
当股票被正确定价时,总回报率等于要求回报率为10%,其中capital gains yield为4.5%。因此,dividend yield为5.5%。
C不对么?CG YIELD=4.5%