Phillips Rock and Mud is trying to determine the maximum amount of cash dividends it can pay this year. Assume its balance sheet is as follows:

Assets Cash $ 372,000

Accounts receivable 852,000

Fixed assets 1,080,000

Total assets $ 2,304,000

Liabilities and Stockholders' Equity Accounts payable $ 499,000

Long term payable 335,000

Common stock (345,000 shares at $2 par) 690,000

Retained earnings 780,000

Total liabilities and stockholders' equity $ 2,304,000

a-1. From a legal perspective, what is the maximum amount of dividends per share the firm could pay? (Do not round intermediate calculations and round your answer to 2 decimal places.)