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Yan · 2021年02月27日

Expected earnings 指的是什么

  1. CFA II
  2. Corporate Issuers

NO.PZ2016012005000029

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

这里说的是next  year的: 然后这里讲的是第五年的 所以，到底expected earnings 指的是什么呢？(从公式看，我个人会觉得，当成是第五年的，比较妥当，但是题目意思，感觉就是下一年的)
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已采纳答案

王琛_品职助教 · 2021年02月28日

嗨，从没放弃的小努力你好：


- 当成第五年比较合适

- 这里其实不用纠结哈，如果考查这个知识点，题干会告诉相关数据，其中，expected earnings 只有一个数据，题干不会告诉两个 expected earnings 哈

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就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

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