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Determine the dividend per ordinary share

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Reference no: EM133158397

Question - Consider the following information provided by Fantastico Pty Ltd:

Market price of an ordinary share $2.34 each

Net profit before tax $2,000,000

Tax rate 30%

10% Preference shares $4,000,000

Payout ratio for ordinary shares 60%

Ordinary shares @ $2 each as per the accounts $1,000,000

Required - Determine the dividend per ordinary share?

a. $4.00

b. $1.20

c. $1.68

d. $1.92

Reference no: EM133158397

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