Roy's Welding Supplies common stock sells for $38 a share and pays an annual dividend that increases

Question:

Roy's Welding Supplies sells for $38 a share and pays an annual that increases by 3 percent annually. The market rate of return on this stock is 8.20 percent. What is the amount of the last paid?

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...