The DivGro Weekly—25.07.25
194 Consecutive dividend increases
Weekly Dividend Progress
This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividend from Roper Technologies and became entitled to our quarterly dividends from Lowe’s and Zoetis, all meaningfully higher than this time last year.
How We Are Tracking
Since DivGro's inception we have predicted and benefited from 194 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.4%.
DivGro in the Press
We recently featured in the Australian Financial Review and Capital Brief
Roper Technologies
For more than 130 years, the ‘Roper Way’ has provided an excellent roadmap for Roper Technologies to navigate from specialised industrial machinery to medical machinery, and in more recent decades to software applications and networks with aplomb. The diversified technology business has sustained an annualised dividend growth rate of around 15% per year compounded for more than 30 years — multiplying its dividend more than 150x and driving a parallel multiplication in stock market value. It’s all due to the continuous refinement of Roper’s targeting system: the company focuses on narrow mission-critical niches; where the customer benefit is high relative to a typically low expenditure; and where the residual market size is too small to excite subsequent serious entrants. Most recently, Roper concentrated its search further, targeting even smaller niches where its domination is near-certain and the niche is expected to grow more quickly. Take its Subsplash acquisition: a software provider for faith-based organisations to upscale communications, rostering and funds collection. It’s one of many examples of how Roper’s playbook allows for a flexible and widening horizon. With smaller niches extending its line of sight, Roper appears set to continue to generate profitable growth and develop its impressive dividend trajectory.