Stansfield, Inc. currently has 400,000 shares of stock outstanding, each with a market price of $20 and a par value of $2. If net income for the year is $295,000 and the firm's retention ratio is 60%, what is the dividend per share on the firm's stock? (Show formula for calculation too)

$0.19 $0.26 $0.30 $0.45 $0.51