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(Calculating the dividend payout ratio) Great Mineral PLC paid out 3,800,000 as dividend for the financial year that ended in February 2016. They made a
(Calculating the dividend payout ratio) Great Mineral PLC paid out 3,800,000 as dividend for the financial year that ended in February 2016. They made a net profit of 15,320,000 in the same year. The management wants to maintain the same dividend payout ratio for the next financial year ending in February 2017. Great Mineral PLC has forecasted a profit of 38,560,000 for the financial year ending in February 2017. If their forecasts are accurate, how much dividend do they need to declare to maintain the same dividend payout ratio
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