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5 . 2 Assuming that the company remained with the residual dividend policy for now, how much would shareholders receive per each share for the

5.2 Assuming that the company remained with the residual dividend policy for now, how much would shareholders receive per each share for the financial year ended 31 March 2024?
Read the scenario below and answer the questions that follow.
A company is under pressure from influential shareholders to change its dividend policy. The company has always followed the residual dividend policy, but the influential shareholders feel that the company needs to change to a stable pay-out ratio policy. The company just reported earnings of R232m for the year ended 31 March 2024. The company is considering the following investment opportunities for the upcoming financial year:
\table[[\table[[Investment],[opportunity]],Cost,Internal rate of return],[A,R72m,14.28%

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