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A bank has estimated that its net income for the year is $ 2 million with 5 0 0 , 0 0 0 outstanding shares

A bank has estimated that its net income for the year is $2 million with 500,000 outstanding shares of stock. It has estimated that its Common Equity Tier 1(CET1) ratio is 6.5%. Its normal dividend payout ratio is 75%. Under the capital conservation buffer requirements of 2016, what is the maximum dividend it can pay on a per share basis? Since this is on a per share basis show you answer out to two decimals in the x.xx format enter $5.65 as 5.65

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