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ELENA COMPANY HAS 800,000 SHARES OF ORDINARY EQUITY SHARES OUTSTANDING. THE COMPANY EARNED P3,000,000 LAST YEAR AND PAID P1.50 PER SHARE IN DIVIDENDS. THE COMPANY

ELENA COMPANY HAS 800,000 SHARES OF ORDINARY EQUITY SHARES OUTSTANDING. THE COMPANY EARNED P3,000,000 LAST YEAR AND PAID P1.50 PER SHARE IN DIVIDENDS. THE COMPANY EXPECTS ITS EARNINGS TO INCREASE TO P3,500,000. THIS YEAR BUT TO DECLINE THE FOLLOWING YEAR. A.) IF THE COMPANY MAINTAINS A STABLE PESO AMOUNT OF DIVIDENDS PER SHARE, HOW LARGE A DIVIDEND WILL EACH SHAREHOLDER RECEIVE THIS YEAR? B.) IF THE COMPANY MAINTAINS A CONSTANT DIVIDEND PAYOUT RATIO POLICY, HOW LARGE A DIVIDEND WILL EACH SHAREHOLDER RECEIVE THIS YEAR

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