Johnson Controls has the following financial information:

12. 
    
    • Net Income: $2 billion
    • Total Dividends Paid: $800 million
    • Number of Shares Outstanding: 1 billion

Requirements:

12. 
    
    3. Calculate the dividend payout ratio.
    4. Determine the earnings per share (EPS).
    5. Compute the dividends per share.
    6. Analyze the retention ratio.
    7. Evaluate Johnson Controls’ dividend policy.