The DivGro Weekly—09.02.24

150 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when FirstService increased its dividend by 11.1%. With this dividend increase we have reached the significant milestone of 150 consecutive dividend increases — with no decreases — at an average dividend rate of increase of 14.85%. We also received our quarterly dividend from Lowe's and became entitled to our quarterly dividend from Visa, both higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 150 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.85%.

FirstService

This week we celebrated an auspicious milestone: reaching 150 consecutive dividend increases when FirstService announced a dividend increase of 11.1%. We recognise FirstService as an exemplary company, exhibiting traits we love and which indicate a high-potential dividend growth company on the ascendant. With roots as a swimming pool management company dating back more than 50 years, FirstService has solidified its position as the dominant force in the provision of essential property management and restoration services in North America. Faced with fragmented, smaller competitors, FirstService continues to be an industry leader with an extensive runway ahead; high internal rates of return facilitate the company to considerably reinvest its earnings in future wealth building. This keen eye on the future is matched by FirstService's simultaneous focus on its shareholders now — which is why it increases its dividend at a double-digit rate to make the shareholder journey more palatable and provide promising omens of future growth as it goes from strength to strength. We covered FirstService in a recent interview on ausbiz which can be accessed here.