Calculate the annual dividend growth rate for the last 10 years. Based on the annual dividend growth rate for the company, will you forecast a constant or non-constant growth in dividends? Explain.

ROP Company

Date	Dividends
1/6/10	0.095
4/7/10	0.095
7/7/10	0.095
10/6/10	0.095
1/5/11	0.11
4/6/11	0.11
7/6/11	0.11
10/5/11	0.11
1/4/12	0.1375
4/11/12	0.1375
7/11/12	0.1375
10/10/12	0.1375
12/19/12	0.165
4/10/13	0.165
7/10/13	0.165
10/9/13	0.165
1/8/14	0.2
4/9/14	0.2
7/9/14	0.2
10/8/14	0.2
1/7/15	0.25
4/8/15	0.25
7/8/15	0.25
10/7/15	0.25
1/6/16	0.3
4/6/16	0.3
7/6/16	0.3
10/5/16	0.3
1/5/17	0.35
4/5/17	0.35
7/5/17	0.35
10/5/17	0.35
1/8/18	0.4125
4/6/18	0.4125
7/6/18	0.4125
10/4/18	0.4125
1/8/19	0.4625