Announcement should be answer with explain

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Kinston industries just announced that it will cut its dividend from $3.00 to $2.00 per share and use the extra funds to expand its operations. kinston's dividends were expected to grow at a 2% rate, and its share price was $37.50. With the new expansion, kinston dividends are expected to grow at a 5% rate. Kinston's share price following this announcement should be answer with explain

Reference no: EM132534869

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