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Its from PYQ Dec2015
(vii) Moston paid a dividend of 20 cents per share on 30 March 2015, which was followed the day after by an issue of 10 million equity shares at their full market value of $1·70. The share premium on the issue was recorded in other components of equity
if the div is paid after the share issue ,the div paid should be 30000x 0.20=6000?why the answer based on the 20000shares/20m shares?
The dividend was paid before the day of the share issue and hence the new shares are not entitled to the dividend.