An N-Stage, Fractional Period, Quarterly Dividend Discount Model

Robert Brooks () and Billy Helms

The Financial Review, 1990, vol. 25, issue 4, 651-57

Abstract: This paper develops a dividend discount model that will allow as many growth stages as desired. The model is directly applicable to most common stocks in that quarterly dividends are assumed and you need not be on a dividend payment date. The equation is easily programmed into a computer and is computationally very fast. The Newton-Rhapson algorithm is suggested as a means for estimating the required rate of return. Copyright 1990 by MIT Press.

Date: 1990
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