The DivGro Weekly—12.12.25

202 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when Mastercard increased its dividend by 14.5%. We also collected our quarterly dividend from S&P Global and became entitled to our quarterly dividends from Alphabet and Home Depot, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 202 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.3%.

S&P Global

S&P Global, whose origins date back to 1860, is the dominant player in global debt ratings alongside sister DivGro holding Moody’s. As such, it enjoys rare access to critical and sensitive data of corporate and government borrowers, steadily accumulating troves of data and generating irreplicable insights. Against this background, it is unsurprising that in recent conferences, the sentiment of S&P Global executives around AI has been especially upbeat, with its customers already clamouring — and thereby happy to pay up for — new LLM-enabled products enhanced by its vast proprietary data. This enthusiasm is reciprocated internally; while these emerging products serve its customers, S&P Global stands to benefit from AI-driven efficiencies too. This tailwind, coupled with its sterling reputation and repository of intellectual property, both of which become increasingly valuable with time, point toward a prosperous future for S&P Global, underscoring a likely extension of its 52-year record of strong and continuous dividend uplifts.