Based on the information given the annual dividend per share is $0.45.
Distribution of net income to common shareholders:
Amount available for common shareholders=45%×$12 million
Amount available for common shareholders =$5,400,000
Number of shares:
Shares=(8 million shares × 3)/2
Shares= 24 million shares/2
Shares = 12 million shares
Annual dividend per share:
Annual dividend per share=$5,400,000/12 million shares
Annual dividend per share=$0.45
Inconclusion the annual dividend per share is $0.45.
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