The DivGro Weekly—16.05.25

192 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when we received our dividends from Lowe’s, American Express, Mastercard and Texas Instruments, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 192 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.5%.

Mastercard

‘Will that be Visa or Mastercard?’ Few businesses have accomplished the ubiquity synonymous with Mastercard (and sister DivGro holding Visa), making the company an exemplary case study in excellent dividend growth. Since its IPO in 2006, it has multiplied its dividend nearly 100x — boosted by a recent dividend increase of more than 15%. Impressively, Mastercard reinvests most of its profits back into its business, earning a whopping return on reinvestment above 50% per annum and driving its profits and dividends skyward. Thanks to troves of transaction data collected over many decades, as well as peerless digital infrastructure, Mastercard (alongside Visa) is in pole position to exploit new digital payment use cases — incentivising emerging entrants to partner, rather than compete, with the business. As its effective royalty on the continued growth of digital payments expands, Mastercard is ideally positioned to extend its superlative dividend growth record long into the future.