Value Investing 101: Calculating the Value of Common Stocks with the Infinite Period Dividend Discount Model

The Infinite Period Dividend Discount Model

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According to the infinite period dividend discount model, the value of a common stock is equal to

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With certain assumptions, including a constant rate of dividend growth, the infinite period Dividend Discount Model can be simplified to D1 / (k - g), where D1 is next period's dividend, k is the required rate of return, and g is the growth rate of dividends.