Use the following information to answer the given question
₦ | |
ordinary shares of ₦1 each | 500,000 |
8% preference shares of ₦1 each | 200,000 |
Interim dividends paid | |
– ordinary shares | 40,000 |
-preference shares | 12,000 |
profit for the year | 100,000 |
The dividend per ordinary shares for the year is?
A. ₦0.88 kobo
B. ₦0.40 kobo
C. ₦0.20 kobo
D. ₦0.17 kobo
Correct Answer: Option B
B. ₦0.40 kobo