$$Dividends per Share

Consider the following financial statement data for Hi$-$Tech Instruments:

For the Year Ended December $31($Thousands of Dollars, except Earnings per Share$)$Sales revenue$$210,000$Cost of goods sold$125,000$Net income$8,300$Dividends$2,600$Earnings per share$$4\mathrm{.}15$

HI$-$TECH INSTRUMENTS, INC.Balance Sheets$($Thousands of Dollars$)$Current YearPrior YearAssetsCash$$18,300$$$18,000$Accounts receivable $($net$)46,00041,000$Inventory$39,50043,700$Total Current Assets$103,800102,700$Plant assets $($net$)52,60050,500$Other assets$15,60013,800$Total Assets$$172,000$$$167,000$Liabilities and Stockholders$$ EquityNotes payable$$banks$$6,000$$$6,000$Accounts payable$22,50018,700$Accrued liabilities$16,50021,000$Total Current Liabilities$45,00045,7009\%$ Bonds payable$40,00040,000$Total Liabilities$85,00085,700$Common stock$50,00050,000$Retained earnings$37,00031,300$Total Stockholders$$ Equity$87,00081,300$Total Liabilities and Stockholders$$ Equity$$172,000$$$167,000$

$*$ $$25\mathrm{.}00$ par value; $2,000,000$ shares

Industry Average Ratios for CompetitorsQuick ratio$1\mathrm{.}3$Current ratio$2\mathrm{.}4$Accounts receivable turnover$5\mathrm{.}9$timesInventory turnover$3\mathrm{.}5$timesDebt$$to$$equity ratio$0\mathrm{.}73$Gross profit percentage$42\mathrm{.}8$percentProfit margin$4\mathrm{.}5$percentReturn on assets$7\mathrm{.}6$percent

Calculate the company$$s dividend paid per share of common stock. What was the dividend payout ratio?

Note: Round answers to one decimal place, when appropriate $($example: $0\mathrm{.}0345555=3\mathrm{.}5\%).$