The DivGro Weekly—20.06.25

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 dividends from S&P Global, Microsoft, Cintas, Alphabet and Home Depot, 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 14.42%.

S&P Global

Not all stamps of approval are created equal. In the matter of debt ratings, S&P Global, together with companion DivGro holding Moody’s, are the industry heavyweights, commanding more than a combined 80% market share. In the eyes of most debt buyers — be they governments or financial institutions — an S&P Global rating is invariably necessary to qualify for purchase. Simultaneously, debt issuers are acutely aware that the interest paid on their debt is dependent on its rating — the higher the rating, the lower the interest payable. Given S&P Global’s rating fees are less than the issuer’s potential interest savings, the company can simultaneously provide incredible value while exerting tremendous pricing power. Additionally, each time its S&P500 index is traded or cloned, the company also benefits from this burgeoning royalty stream. Given its entrenched position and unique pricing power, S&P Global has generated strong dividend growth and parallel stock price performance for more than half a century, while also providing high visibility for the foreseeable extension of both.