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海伦岛主 · 2020年10月28日

问一道题：NO.PZ2016012005000029

  1. CFA II
  2. Corporate Issuers

问题如下：

The dividend policy of Berkshire Gardens Inc. can be represented by a gradual adjustment to a target dividend payout ratio. Last year Berkshire had earnings per share of $3.00 and paid a dividend of $0.60 a share. This year it estimates earnings per share will be $4.00. Find its dividend per share for this year if it has a 25 percent target payout ratio and uses a five-year period to adjust its dividend.

选项：

A.

$0.68.

B.

$0.80.

C.

$0.85.

解释：

A is correct.

Expected dividend = Previous dividend + (Expected earnings ×Target payout ratio – Previous dividend) × Adjustment factor)=$0.60+（$4×0.25-$0.6）×0.2=$0.68

This year it estimates earnings per share will be $4.00. 

请问这句话的意思是预计5年后的EPS是4，还是预计This year的EPS是4？

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1 个答案

王琛_品职助教 · 2020年10月28日

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