The DivGro Weekly—07.11.25

200 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when Roper Technologies increased its dividend by 10.3%. This marks a milestone 200th consecutive dividend increase across the portfolio companies held in the DivGro Fund. We also collected our quarterly dividends from Stryker and Danaher and became entitled to our quarterly dividend from Costco, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 200 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.4%.

Costco

Costco recently increased its quarterly dividend for the 200th consecutive year — a formidable achievement but one which understates Costco’s true dividend prowess given it has also paid intermittent, very substantial, special dividends. Among its key drivers of success is its Kirkland Signature home brand, which recently celebrated its 30th anniversary, reaching $86 billion in sales. Kirkland’s rapid growth is unsurprising since its suppliers (typically well-known brands) must demonstrate that the products they make for Kirkland perform at least one percent better than their own branded products, but at meaningfully sharper prices, making Kirkland near-impossible to compete with. This philosophy is truly customer-centric: for every dollar of incremental profit, Costco aims to deliver an extra five dollars in member savings. As more customers learn of this shared benefit philosophy, they will naturally tend towards becoming members, further enabling Costco to continue optimising its range and prices, reinforcing its competitive edge and powering the continuation of its impressive dividend growth trajectory into the future.