Problem
The Santra Solution, Inc., a residential window and door manufacturer, has the following historical record of earnings per share (EPS) from 2012 to 2020:
|
2020
|
2019
|
2018
|
2017
|
2016
|
2015
|
2014
|
2013
|
2012
|
EPS
|
$1.28
|
$1.22
|
$1.18
|
$1.13
|
$1.10
|
$1.05
|
$1.00
|
$0.95
|
$0.90
|
The company's payout ratio has been 57%. If dividends are expected to grow at the same arithmetic average growth rate of the last nine years, what is the dividend payment per share in 2021?