Simon CFO disagrees with the consensus analyst growth forecast of 5%. She points to the last four years of dividends that Simons stock has paid as proof that the firm is capable of better growth.
Time paid:
Three years ago Dividend $2.07
Tow years ago Dividend 2.19
One year ago dividend 2.47
Today dividend 2.61
What is the average dividend growth rate over the last three years? Use the arithmetic average.