The DivGro Weekly—16.01.26

206 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when S&P Global increased its dividend by 1% and we collected our quarterly dividend from Constellation Software. We also became entitled to our quarterly dividends from Mastercard, Abbott Labs and Intuit, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 206 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.2%.

DivGro in the Press

We recently featured on the Compounders Podcast. The full episode is available on Apple and Spotify.

S&P Global

With origins dating back to 1860, S&P Global has evolved into a capital markets ratings and data behemoth, underpinning its rarefied status as a ‘Dividend King’. This designation is bestowed upon companies that have increased their dividend every year for more than half a century, which has helped underpin S&P Global’s multigenerational outperformance of its share price in tandem. While its recent 1% dividend increase might appear pedestrian — this increase takes into account the imminent spinoff of S&P Global’s Mobility division which accounts for approximately 10% of its sales — meaning that effectively the dividend increase when adjusted for this is materially higher. Indeed, S&P Global has made astute capital reallocation moves like this many times in its storied history, each time ultimately improving the company’s positioning in faster growth, higher margin businesses. With an enhanced margin profile coupled with its substantial active share buyback program, S&P Global is poised to extend its status as a Dividend King with ongoing impressive dividend increases well into the future.