=+LG 4 P14–8 Alternative dividend policies Steel Enterprises’ earnings per share for the period 2013–2020 are summarized in the table below. Use this information to calculate the dividends per share for each of the years and scenarios presented in parts a through d.

Year Earnings per share 2020 $2.40 2019 2.00 2018 1.79 2017 -0.95 2016 1.64 2015 1.28 2014 1.01 2013 0.86