Calculate the firm’s expected rate of return using your calculated expected dividend, growth rate, and the unadjusted price for April 30 of this year.

Some companies may have paid extra dividends. This will appear either as an added dividend payment or as an extra-large dividend that has been lumped with the regular dividend. If it looks like this has happened with your company you will need to check the appropriate annual report to determine if it was an extra or special dividend, in which case you should not include it in your calculations .
⦁ Make sure your data have been adjusted for splits. If you see the dividends have suddenly dropped by a large amount, it is likely that there has been a split and you will need to make an adjustment .
⦁ Calculate the annual growth rates of the dividends .
⦁ Calculate the average of your 4 annual growth rates. This is your value for g.
⦁ Estimate the total dividends that will be paid between May of this year and April of next year, assuming that the firm maintains its current average annual growth rate.
⦁ Calculate the firm’s expected rate of return using your calculated expected dividend, growth rate, and the unadjusted price for April 30 of this year.