You expect KT Industries (KTI) will have earnings per share of $3 this year and expect that they will pay out $1.50 of these earnings to shareholders in the form of a dividend. KTI's return on new investments is 15% and their equity cost of capital is 12%. The expected growth rate for KTI's dividends is ________%.

(Please write percentage as a number with one decimal place, no "%" sign. e.g. write "12.34%" as "12.3")