One week after Granddads Kitchen split its stock 3-for-1, it paid a dividend of $0.55 per new

Question:

One week after Granddad’s Kitchen split its stock 3-for-1, it paid a dividend of $0.55 per new share. The dividend payment was 10 percent greater than last year’s pre-split dividend. What was last year’s dividend per share?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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