The DivGro Weekly—01.08.25

196 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when Cintas increased its dividend by 15.4% and Wingstop increased its dividend by 11.1%. We also collected our quarterly dividend from Danaher, meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 196 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.4%.

Cintas

How many spectacular business stories begin at the circus? When the Great Depression closed the curtains on the circus where Doc and Amelia Farmer performed, the pair began upcycling discarded rags for sale, setting the stage for what would become Cintas. Cut to today: the company has evolved to service more than one million US businesses, providing mission-critical uniform rental and sanitation, fire-safety and first-aid services. Just this week, Cintas raised its dividend by 15.4%, marking its 42nd year of consecutive annual increases since its 1983 IPO — driving a correspondingly extraordinary share price appreciation. While Cintas’s uniforms may be less glitzy than the costumes its founders once performed in, the company’s niche focus on mission-critical, recurring services, coupled with increased efficiencies, enables Cintas to grow its margins and industry dominance. With 15 million more potential businesses to service, Cintas is ideally positioned to extend its superlative dividend growth record into the future.