Latino Inc. employs a residual dividend policy which pays on an annual basis. This year,...
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Latino Inc. employs a residual dividend policy which pays on an annual basis. This year, Latino Inc., funded $7.5 million in projects, with 40% of total funds comin from equity. This financing reflects the target capital structure weight for equity of 40%. Net Income in the current year totaled $3.5 million. There are 160000 shares outstanding. How much did Latino Inc. pay per share in its residual dividend? Round your answer to 2 decimal places. That is, if your answer is $3.2459, write 3.25. Your
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