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Presented below are balances taken from the records of Armor Corporation for 2020: 8% Preference...

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Accounting

Presented below are balances taken from the records of Armor Corporation for 2020: 8% Preference Share Capital, 80 par = 2,000,000 Subscribed Preference Share Capital = 350,000 Subscriptions Receivable-Preference = 120,000 Ordinary Share Capital, 30 par = 1,500,000 Subscribed Ordinary Share Capital = 660,000 Subscriptions Receivable-Ordinary = 245,000 Accumulated Profits-Free = 3,250,000 Treasury Shares-Preference (at cost: 85) = 201,875

Assume preference shares are cumulative and participating. The last dividend declaration was in 2017. During the year, Armor declared cash dividends amounting to 820,000. How much is the cash dividend per ordinary share? Round off your answer to two decimal places.

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