The board of Kopi Industries is considering a new dividend policy that would set dividends at 66% of earnings. The recent past has witnessed earnings per share (EPS) and dividends paid per share as follows: Based on Kopis historical dividend payout ratio. discuss whether a constant payout ratio of 66% would be suitable for the firm. The dividend payout ratio in 2016 is \%. (Round to two decimal places) \begin{tabular}{|c|c|c|} \hline Year & EPS & Dividend/share \\ \hline 2016 & $1.95 & $1.20 \\ \hline 2017 & $2.17 & $1.49 \\ \hline 2018 & $2.28 & $1.53 \\ \hline 2019 & $2.51 & $1.59 \\ \hline \end{tabular}