The DivGro Weekly—22.08.25

196 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Abbott and Watsco. We also became entitled to our quarterly dividends from Cintas, Moody’s, MSCI, Poolcorp and Wingstop, all 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%.

Investor Letter

Earlier this week, we published our latest letter to investors. The letter details DivGro’s six-year anniversary and why we believe our dividend growth methodology is so compelling and effective. Our August 2025 Investor Letter can be accessed here.

Poolcorp

Poolcorp, the dominant North American wholesale distributor of pool supplies and equipment, is a dividend-growth darling. The business, which has grown to command a 30% market share already, recently celebrated its 30th anniversary since its IPO — and what better validation of this milestone than Warren Buffett’s seal of approval? In its recently filed 13F, Berkshire Hathaway disclosed its accumulation of a significant Poolcorp stake, totalling 9.3% of the company. So, what makes pool supplies so appealing? Poolcorp’s business is recurring by design. Once a pool is installed, pool maintenance must be undertaken ad infinitum, providing clear visibility into the development of its core maintenance business. Plus, with small, fragmented competitors, Poolcorp is unmatched on multiple fronts: it has the broadest inventory; most convenient locations; sharpest prices; and superior service. This makes it number one in the eyes of its customers, i.e. pool service people who are extremely convenience, time, and cost-sensitive — ideally positioning the company to continue its outstanding dividend growth trajectory.