Charlene Owns Stock in a Company Which Has Consistently Paid

Multiple Choice

Charlene owns stock in a company which has consistently paid a growing dividend over the last five years. The first year Charlene owned the stock, she received $1.71 per share and in the fifth year, she received $2.89 per share. What is the growth rate of the dividends over the last five years?

A) 12 percent
B) 7 percent
C) 5 percent
D) 14 percent