34| | duke realty corporation annual report 2009 property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential .our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as generating cash flow by disposing of selected properties .in light of current economic conditions , management continues to evaluate our investment priorities and is focused on accretive growth .we have continued to operate at a substantially reduced level of new development activity , as compared to recent years , and are focused on the core operations of our existing base of properties .recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments .the following is a summary of our recurring capital expenditures for the years ended december 31 , 2009 , 2008 and 2007 , respectively ( in thousands ) : dividends and distributions we are required to meet the distribution requirements of the internal revenue code of 1986 , as amended ( the 201ccode 201d ) , in order to maintain our reit status .because depreciation and impairments are non-cash expenses , cash flow will typically be greater than operating income .we paid dividends per share of $ 0.76 , $ 1.93 and $ 1.91 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .we expect to continue to distribute at least an amount equal to our taxable earnings , to meet the requirements to maintain our reit status , and additional amounts as determined by our board of directors .distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant .at december 31 , 2009 we had six series of preferred shares outstanding .the annual dividend rates on our preferred shares range between 6.5% ( 6.5 % ) and 8.375% ( 8.375 % ) and are paid in arrears quarterly. .                               | 2009    | 2008    | 2007   
recurring tenant improvements | $ 29321 | $ 36885 | $ 45296
recurring leasing costs       | 40412   | 28205   | 32238  
building improvements         | 9321    | 9724    | 8402   
totals                        | $ 79054 | $ 74814 | $ 85936 .
Question: what was the net change in the dividend payment from 2007 to 2008?
Steps: subtract(1.93, 1.91)
Answer: 0.02
Question: what was the 2007 dividend payment?
Steps: Ask for number 1.91
Answer: 1.91
Question: what is the percent change?

Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.
34| | duke realty corporation annual report 2009 property investment we evaluate development and acquisition opportunities based upon market outlook , supply and long-term growth potential .our ability to make future property investments is dependent upon our continued access to our longer-term sources of liquidity including the issuances of debt or equity securities as well as generating cash flow by disposing of selected properties .in light of current economic conditions , management continues to evaluate our investment priorities and is focused on accretive growth .we have continued to operate at a substantially reduced level of new development activity , as compared to recent years , and are focused on the core operations of our existing base of properties .recurring expenditures one of our principal uses of our liquidity is to fund the recurring leasing/capital expenditures of our real estate investments .the following is a summary of our recurring capital expenditures for the years ended december 31 , 2009 , 2008 and 2007 , respectively ( in thousands ) : dividends and distributions we are required to meet the distribution requirements of the internal revenue code of 1986 , as amended ( the 201ccode 201d ) , in order to maintain our reit status .because depreciation and impairments are non-cash expenses , cash flow will typically be greater than operating income .we paid dividends per share of $ 0.76 , $ 1.93 and $ 1.91 for the years ended december 31 , 2009 , 2008 and 2007 , respectively .we expect to continue to distribute at least an amount equal to our taxable earnings , to meet the requirements to maintain our reit status , and additional amounts as determined by our board of directors .distributions are declared at the discretion of our board of directors and are subject to actual cash available for distribution , our financial condition , capital requirements and such other factors as our board of directors deems relevant .at december 31 , 2009 we had six series of preferred shares outstanding .the annual dividend rates on our preferred shares range between 6.5% ( 6.5 % ) and 8.375% ( 8.375 % ) and are paid in arrears quarterly. .                               | 2009    | 2008    | 2007   
recurring tenant improvements | $ 29321 | $ 36885 | $ 45296
recurring leasing costs       | 40412   | 28205   | 32238  
building improvements         | 9321    | 9724    | 8402   
totals                        | $ 79054 | $ 74814 | $ 85936 .
Question: what was the net change in the dividend payment from 2007 to 2008?
Steps: subtract(1.93, 1.91)
Answer: 0.02
Question: what was the 2007 dividend payment?
Steps: Ask for number 1.91
Answer: 1.91
Question: what is the percent change?
