The DivGro Weekly—12.06.26

219 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 Moody’s, Wingstop and Interactive Brokers, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 219 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 13.9%.

Investor Letter

Our June 2026 Investor Letter can be accessed here.

Wingstop

In 1994, the first-ever Wingstop opened in Texas and in 2025, the fast-growing chicken-wing franchisor crossed 3000 units. New openings often command queues lining multiple blocks, while franchisees clamour to open new units. So, what makes Wingstop’s economics so delectable? Beyond the compact store footprint, takeaway and delivery focus, and lean team required for a Wingstop — which in turn mean lower labour and rent costs — the Wingstop model is geared to handsomely reward franchisees. For a relatively small initial outlay of $500,000, Wingstop’s average annual unit sales have progressively grown beyond $2 million, with some seasoned cohorts now pushing towards $3 million, generating annual cash returns for franchisees in excess of 50%. Plus, Wingstop’s strategic determination to hold prices (especially in recent inflationary conditions) has enhanced customer value and engendered stronger loyalty, further boosting franchisee profits. Combined, these factors continue to power Wingstop’s consistent uplift in its dividend, which has grown at an impressive rate above 20% annualised since its initiation in 2017.