Joey's Seafoods is incorporated and has had the following share capital structure for 3 years:

Preferred shares, $4.00 cumulative, unlimited shares authorized

2,000 shares issued and outstanding $ 80,000

Common Shares, unlimited shares authorized

16,000 shares authorized and outstanding $ 210,000

In 2019, there were no dividends declared or paid. In 2020, the Board declares a dividend of $48,000 on August 13, to be paid out on September 1 to shareholders of record as of August 20.

How much of a dividend will each common share earn?