Brekker Company Has 40 Million Common Shares Outstanding and Has

Multiple Choice

Brekker Company has 40 million common shares outstanding and has consistently paid out 25% of its earnings over the past seven years. Last year, it announced earnings of $600 million and paid out a 25% stock dividend in lieu of cash, retaining its earnings to fund its expansion into China. Share price was maintained on news of positive cash flows from the expansion. The company would like to retain all this year's $690 million in earnings to consolidate its overseas investment. What is the minimum dividend per share to ensure investor confidence?

A) $3.45 million.
B) $3.75 million.
C) $4.69 million.
D) $13.
E) $15.00.