The DivGro Weekly—01.05.26

218 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when Alphabet increased its dividend by 4.8%. We also collected our dividends from Hermès, Roper Technologies and Danaher and became entitled to our dividend from L’Oréal, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 218 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14%.

L’Oréal

Of all the accolades in the modelling world, none are more coveted than a beauty contract with L’Oréal — just ask supermodel Kendall Jenner who joined its peerless roster of ambassadors. At its recent AGM, the 116-year-old beauty powerhouse approved another dividend increase, extending its impressive record. As the longest-standing beauty company of its size, customers are inclined to trust its product efficacy and claims — a huge intangible asset in the beauty industry. With more than €44bn in 2025 sales, its near-universal presence, well-oiled distribution, and enormous advertising spend ensure maximum shelf space and mind share, reassuring existing customers while capturing the most newcomers. L’Oréal also invested early in its eco-friendly credentials, understanding the growing importance of efficacious-yet-clean products for customers; today it is the singular company worldwide with a consecutive 10-year record of triple ‘A’ CDP sustainability score. By leveraging its suite of advantages, L’Oréal is swift to acquire emerging competitors or fill gaps in its portfolio. For example? Its purchase of Melbourne-founded Aesop in 2023. Taken cumulatively, L’Oréal’s privileges point to a likely enhancement of its market share, magnifying its profitability and accordingly providing long runway for its dividend growth expansion.