The DivGro Weekly—19.04.24
161 Consecutive dividend increases
Weekly Dividend Progress
This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividend from Intuit and became entitled to our quarterly dividends from Abbott, Watsco and Zoetis, all meaningfully higher than this time last year.
How We Are Tracking
Since DivGro's inception we have predicted and benefited from 161 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.9%.
Distribution
Next week we will pay our 18th consecutive quarterly distribution. Notably, this distribution is 11.2% higher than the previous one. DivGro has grown its distributions each year by at least a double-digit percentage increase. Our first quarterly distribution was paid in January 2020 in the amount of $0.0012 and is now $0.00278 - i.e. 2.3x higher.
Abbott
Abbott, our global healthcare workhorse, has forged a unique path paved with utmost customer trust that leads to an exceptional milestone: the company has delivered uninterrupted dividend payments for 100 years. It is a remarkable feat and we anticipate receipt of Abbott’s 401st consecutive quarterly dividend, due next month. By 2030, Abbott aims to improve the healthcare of one in every three people. How will the company achieve this lofty goal? By staying ahead of developing health concerns and innovating appropriate and timely responses. Its recent launch of Protality, a multi-action muscle optimiser, exemplifies this ethos in action. Protality is designed to curb the side effects of weight loss generated by emergent GLP-1 medications such as significant and potentially dangerous muscle loss of 11-50 per cent. With Protality, Abbott mitigates muscle loss by providing high-protein nutrition designed to feed muscles better and longer in order to protect muscle mass during reduced calorie intake. By seizing opportunities to observe emergent health concerns as they develop, innovate solutions promptly and maximise better health outcomes, Abbott continues to build upon and replenish both its portfolio and customer trust while marching closer towards its goal and enhancing its superb 52-year dividend growth record.
