An analyst gathers the following information about a company: | Cash flow from operating activities | €600,000 | | Preferred dividends declared and paid | €30,000 | | Total dividends declared and paid | €120,000 | | Number of common shares outstanding | 100,000 |

The company did not issue or repurchase common shares during the year. If the company reports total dividends paid as cash flows used in operating activities, cash flow per share is: