Cooperton Mining just announced it will cut its dividend from $4 07 to 52.29 per...
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Cooperton Mining just announced it will cut its dividend from $4 07 to 52.29 per share and use the extra funds to expand Prior to the announcement, Cooperton's dividends were expected to grow at a 3.2% rate, and its share price was $51.22. With the planned expansion Cooperton's dividends are expected to grow at a 4.6% rate. What share price would you expect after the announcement? (Assume that the new expansion does not change Cooperton's tink) is the expansion a good investment? GO The new price for Coopertor's stock will be $(Round to the nearest cent)
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