Division Assembly in MSP430
You should get the remainder. 

To turn that into a fraction you first need to decide between fixed and floating point; and if fixed, how many fractional bits. 

Fixed point is easy : if you decide you want 8 fractional bits, just divide 2^8 * remainder / denominator, and use the size of that operation's remainder to determine rounding.

In your example, that would give

(256 * 1) / 2 = 128 as your fractional part, i.e. 128 / 256 = 0.5

Or for 3 fractional (decimal) digits, just compute 10^3 * remainder / denominator.

For floating point you would use a floating point library; it's far too complex to seriously consider rolling your own.