The common stock of company ABC can currently be purchased in the market for $28.22 per share. The company expects to pay a dividend of $1.59 at the end of the next year; the dividend is expected to grow by 2.2% each year indefinitely.

What is the stock's dividend yield?

Enter your answer as a decimal with a leading zero and 4 decimal places of precision (i.e. 0.1234)