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Cooper Industries is planning for $10 million in capital expenditures next year. Coopers target capital structure is 30% debt, and 70% equity. Net income next

Cooper Industries is planning for $10 million in capital expenditures next year. Coopers target capital structure is 30% debt, and 70% equity. Net income next year is expected to be $8 million. Cooper follows a residual distribution policy and all of the distributions are in the form of dividends. Cooper currently has 500,000 shares outstanding. What will be Coopers dividend payout ratio? What is the dividend per share?

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