HARLAND CORP has been in existence for 45 years. Over the past, 6 years the stock price has stagnated and remained between $22.15 and $22.82. The CEO, who started the company, believes that the stock price needs to be higher, and the best way to do that is to pay a dividend to increase the demand for the stock. The company has never paid a dividend in their history. The CEO needs to determine what type of dividend policy to follow, and how much the first dividend should be, so he comes to you for advice. He provides you with the following historical information as it relates to the company's earnings per share (as an aside, dividends per share should not exceed EPS unless the firm is liquidating):

YEAREPS

2017$2.36

2016$2.12

2015$0.81

2014$2.01

2013$2.09

2012$2.44

2011$2.31

2010$2.01

what is the brief memo as to what dividend policy you recommend, why recommend it, what initial dividend amount you recommend, and why you recommend that amount.