The correct answer is: D. None of the above
Dividend is a distribution of a portion of a company’s earnings, decided by the board of directors, to a class of its shareholders. It is usually paid in cash, but it can also be paid in stock or property.
The face value of a share is the nominal or par value of a share, which is the amount printed on the face of the share certificate. The face value is usually very small, and it has no bearing on the market value of the share.
The market value of a share is the price at which a share is bought and sold on the stock market. The market value of a share is determined by supply and demand, and it can fluctuate significantly over time.
The paid-up value of a share is the amount of money that a shareholder has paid for the share. The paid-up value is usually equal to the face value of the share, but it can be more or less than the face value.
In conclusion, dividend is not calculated on any of the above.