The DivGro Weekly—28.11.25

201 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 Poolcorp and MSCI and became entitled to our quarterly dividends from Moody’s, S&P Global and Wingstop, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 201 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.3%.

DivGro in the Press

This week, we featured on the Careers and Finance Podcast and in Firstlinks.

Wingstop

Wingstop, which began as a single Texan restaurant in 1994, opened its 3,000th unit this week. The exceedingly popular chicken wing quick-service franchisor has experienced an incredible ascent; just three years ago Wingstop had 1,850 units. Today, the company envisages reaching 6,000 US units and 10,000 globally, with a backlog of qualified franchisee interest in excess of 2,000 units. Wingstop’s momentum is due to a confluence of factors: a mix-and-match menu provides variability while simultaneously requiring few ingredients and simple operations; small store footprints with compact four-person teams significantly lower labour and rent costs; and a hero ingredient that is inexpensive but universally appealing facilitates high margins and industry-leading franchisee economics. The result? Wingstop has been able to buck the industrywide trend and refrain from price increases in recent years, further endearing itself to consumers and improving customer value. These dynamics have powered its dividend upwards at 20% per annum compounded since 2017 (plus occasional significant special dividends), establishing an impressive dividend-growth trajectory that appears set to continue into the future.