After a 5-for-l stock split, Tyler Company paid a dividend of $1.15 per new share, which represents

Question:

After a 5-for-l stock split, Tyler Company paid a dividend of $1.15 per new share, which represents a 7% increase over last year’s pre-split dividend. What was last year’s dividend per share?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...

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