The following question is a problem scenario. You must use the method used in seminars to answer the question. Make sure you apply the law to the facts. Do not write more than 500 words. Gilles Pty Ltd is a small gold miner. It has different types of shares including a non-cumulative preference share. In 2018/2019 Gilles Pty Ltd made a loss and did not pay a dividend. Charles holds non-cumulative preference shares in Gilles Pty Ltd. He is expecting that Gilles Pty Ltd will show a profit in 2019/2020 and pay a dividend. What can Charles expect as a dividend given the shares he holds