P16-2 (similar to) Question Help 0 (Dividend payout ratio) The Costco Wholesale Corporation (COST) operates membership warehouses that offer a wide variety of branded and private label products in no-frills, self-service warehouse facilities. In 2008 the company paid total cash dividends of $265,029,000 and had net income of $1,282,725,000. a. What was the firm's dividend payout ratio? b. If Costco were to earn $1.65 billion in 2009 and maintained the same dividend payout ratio that it paid in 2008, what would the firm's dividends be? a. The firm's dividend payout ratio was %. (Round to two decimal places.)