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A firm has a dividend policy based on target: it pays - out the lowest of 5 5 % of net earnings per share and

A firm has a dividend policy based on target: it pays-out the lowest of 55% of net earnings per share and $50 per share. For 2020, the net earnings are expected at $150 mio. There are 1.5 mio shares outstanding. The dividend per share to be expected will be:
A. $50/55%
B. $50 x 55%
C. $50
D. $50 x (1+55%)

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