Iqbal Ltd started trading on 1 January 2006. During the first five years of trading, the following occurred:
|
Year ended |
Trading |
Profit/(loss) on sale of |
Upward revaluation of |
|
2006 |
(15,000) |
– |
– |
|
2007 |
8,000 |
– |
10,000 |
|
2008 |
15,000 |
5,000 |
– |
|
2009 |
20,000 |
(6,000) |
– |
|
2010 |
22,000 |
– |
– |
Required :
Assume that the company paid the maximum legal dividend each year. Under normal rcumstances, how much would each year”s dividend be?