STOCKHOLDER RATIOS Presented below are selected data from the financial statements of Debonair Corp. for 2009 and 2008.

2009 2008 Net income $110,000 $123,000 Cash dividends paid on common stock 42,000 38,000 Market price per share of common stock at the end of the year 16.00 13.00 Shares of common stock outstanding 140,000 140,000 Required:

Calculate the dividend payout ratio for 2009.

Exercises Exercise