Gce Model Questions Vol1 2021 Commerce Question 44
Practice objective / multiple choice question 44 from the 2021 Gce Model Questions Vol1 Commerce examination.
A private limited company has 10,000 ordinary shares of ₦500 each. At the end of the financial year the company reports a profit after tax of ₦2,400,000. Before any dividend is paid, the company must set aside a legal reserve equal to \(5\%\) of the profit. The board then decides to pay a dividend equal to \(30\%\) of the remaining profit and retain the balance. How much dividend per share is payable to each shareholder? Give your answer to two decimal places.
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About This Question
This is Gce Model Questions Vol1 2021 Commerce Question 44. It is one of the objective questions from the 2021 Gce Model Questions Vol1 Commerce examination.
Difficulty level: Medium .
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