7.2 Bayliss Chandler Ltd has an issued share capital of £20,000, split into 50p shares. In the year ended 31 May 20X7 a dividend of 6p per share was paid.

Ambrose owns 10% of the issued shares in Bayliss Chandler Ltd. What was the value of Ambrose’s dividend for the year ended 31 May 20X7?

a) £180

b) £120

c) £240

d) £360