Chapter $17$ Dividend Policy

An oil and gas producer$$s net income in $2023$ was $$1,313$ million, and the company plans

for $$552$ million on capital expenditure, and $$54$ million on acquisition in $2024.$ Suppose

the company had no other large capital spending, and the target deb$-$to$-$equity ratio is $0\mathrm{.}48.$

The company has $150$ million common shares outstanding. How much dividend per share

can the company afford to pay out?