Question: Fritz Corporation has 750,000 shares of preferred stock and 1,600,000 shares of common stock. The cumulative preferred stock has a stated dividend of $1.55 per share. Under because of a severe preferred stock has a stated dividend of however, the preferred dividends, and 25% of remaining earnings to common stockholders, however, because of a severe recession, Fritz retained at earnings last year. This year, Fritz earned net income of $6 million. Calculate the dividend per share to be received by the common stockholders this year.