The DivGro Weekly—13.02.26

208 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 Lowe’s, Mastercard and American Express and became entitled to our quarterly dividend from Visa, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 208 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.1%.

American Express

Founded more than 175 years ago, Amex is the world’s fourth largest card network today with over $72 billion in annual sales. While everyone has a credit card, not everyone necessarily has an Amex — and even fewer have a premium Amex — illuminating the special status of its card-carrying echelon. In return for considerable annual fees, Amex, which is extremely selective about who it accepts, solidifies this special status by supplementing its cardholders with unique benefits that further differentiate them from alternative card options. These include restricted airport lounge access; near-impossible restaurant reservations; shows; sporting events etc. With access to these privileges, customers are disincentivised from either defaulting or cancelling their cards, resulting in industry-best credit metrics, especially as cohorts of cardholders mature. The net result: Amex is able to reinvest heavily in growth opportunities to enhance both loyalty and profitability, providing customers with new and sought-after experiences, while commanding higher annual fees and upscaling its dividend growth credentials.