Snowman Company has 70,000 shares of $10 par, 7%, cumulative…
Snowman Company has 70,000 shares of $10 par, 7%, cumulative preferred stock outstanding and 125,000 shares of $0.50 par common stock issued and 30,000 shares of treasury stock. Dividends were paid in full through 2017. In 2018 Snowman Company paid $20,000 of total dividends and in 2019 Snowman Company paid $50,000 in total dividends. Total dividends declared in 2020 were $150,000. What is the dividend per share that common stockholders will receive in 2020 (round your answer to two decimal places)?