Financial objectives BPP

Magnet plc has objectives to improve EPS and DPS by 10% p.a.

Last yr current yr
$m. $m

PBIT 22,300 23,726

Interest 3,000. 3,000

Tax 5,790 6,218

PAIT 13,510 14,508

Pref Div. 200 200

Divs. 7,986 8,585

R.E. 5,324 5,723

O.Shares 100,000 100,000
(in million)

Share price at the end of year $4.70 and $5.16 per share respectively.

Question :

What is the growth in the dividend per ordinary share ?

Answer : 7.5% – Div increased from 8 cents to 8.6 cents , a 7.5% increase

I understand dividend per share = annual total dividend paid out / no of ordinary shares… but in this case , I couldn’t apply this to get same result . Could you pls assist?

PAIT ( profit after interest and Tax).