=AVERAGE((B2:B5-B1:B4)/B1:B4)

which is an array formula, it should be committed with Ctrl-Shift-Enter, not
just Enter.

--
HTH

Bob Phillips

(remove xxx from email address if mailing direct)

wrote in message
ups.com...
Hi,

I'd would like to know if there is a worksheet function that will allow
me to calculate
the average annual dividend growth for the last 5 years.

Here's my example:

YEAR ---- ANNUAL DIVIDEND
2001 ---- $0.12
2002 ---- $0.18
2003 ---- $0.29
2004 ---- $0.44
2005 ---- $0.69

Is there a quick way to calculate the average annual dividend growth?

thanks in advance!