Horizon Ltd started operations on 1 January 2013. During the first five years of operations, the following occurred: In 2013, the company experienced a trading loss of £12,000 with no profit or loss on non-current assets, but there was an upward revaluation of non-current assets by £4,000. In 2014, the trading profit was £7,000, with a profit on non-current assets of £1,500 and an upward revaluation of £6,000. The year 2015 saw a trading profit of £18,000, with a profit on non-current assets of £3,000 and an upward revaluation of £5,000. In 2016, the trading profit was £22,000, but there was a loss on non-current assets of £4,000 with no upward revaluation. Finally, in 2017, the trading profit was £28,000, with a profit on non-current assets of £2,000 and an upward revaluation of £3,000.

Required: Assume that the company paid the maximum legal dividend each year. Under normal circumstances, how much would each year's dividend be?