The DivGro Weekly—25.04.25
190 Consecutive dividend increases
Weekly Dividend Progress
This week we received further real-time, tangible evidence of outstanding business progress when we received our quarterly dividends from Intuit and Roper Technologies and became entitled to our quarterly dividends from Zoetis and Lowe’s, all meaningfully higher than this time last year.
How We Are Tracking
Since DivGro's inception we have predicted and benefited from 190 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.6%.
Distribution
This week, we paid our 22nd consecutive quarterly distribution. Notably, this distribution is 11.5% higher than the same time last year. DivGro has grown its distributions each year by at least a double-digit percentage increase. Our quarterly distribution is already 2.7x higher than our first quarterly distribution paid in January 2020.
DivGro in the Press
This week, DivGro featured in both The Australian and Firstlinks. These features can be accessed here and here.
Zoetis
Zoetis, previously Pfizer Animal Health, is the dominant leader in the animal health space. Its medications are the natural go-to choice for veterinarians and are often not just the best but also the only available treatments. This accustoms veterinarians to using Zoetis such that there is no clear upside for them to deviate, and simultaneously motivates them to prescribe its latest approved products too. This dynamic inheres multiple unique benefits within the company. For example? Since animal health niches can be quite narrow, once Zoetis is established in a treatment, competitors often become reluctant to challenge, resulting in some Zoetis treatments enduring for upwards of 30-40 years. Accordingly, Zoetis enjoys a privileged interplay that foretells its promising future: while the company can earn high and sustainable margins on established products, it also boasts a receptive audience of customers who anticipate new innovations from its R&D team, supporting a fruitful extension of its dividend growth, which has already compounded at around 18% per annum since its 2013 IPO.