Galaxy Garden Supply just paid a dividend of $2.85 per share. The company has a dividend payout ratio of 60%. If the P/E ratio is 16.5 times, what is the stock price?
Galaxy Garden Supply just paid a dividend of $2.85 per share. The company has a dividend payout ratio of 60%. If the P/E ratio is 16.5 times, what is the stock price?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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I need assistance with this financial accounting problem using valid financial procedures.
Transcribed Image Text:Galaxy Garden Supply just paid a dividend of $2.85
per share. The company has a dividend payout ratio
of 60%. If the P/E ratio is 16.5 times, what is the stock
price?
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