Trigger event automatically on DOMCharacterChanged or change to div

so basically i have div

here contenteditable

and a button

on click

from which content changes div

! Now what I want is automatically started event

for div

after content changes.

Note. I am using jQuery version 1.8.2

DEMO

I have tried as below but no success.

<div contenteditable id="divtxt">First Text</div>
<button id="btnChange">Change</button>

      

        
        
        
      

    

Js

$('#divtxt').bind("DOMCharacterDataModified",function(){
    alert('this is the event of div'); 
});
$('#btnChange').bind('click',function(){
   $("#divtxt").text('Text Changed on click');
});

      

        
        
        
      

    

any help is appreciated!