Calculate dividend payout ratio from the following data 

Xerxes Corporation In his analysis of the stock of Xerxes Corporation, Weatherspoon observes that it has a dividend of $2.00 per share and a stock price of $51.98. Two analyst interns have offered estimates of the company's required rate of return and dividend growth rate, as shown in Exhibit 4. Exhibit 4: Xerxes Corporation Require Rate of Return and Dividend Growth Rates (Estimates) Intern 1 Required rate of return 8.3% Growth rate, first four years 5.0% Growth rate after four years 3.6% Intern 2 7.8% 4.8% 4.0%