The DivGro Weekly—24.10.25
198 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 Intuit and Roper Technologies and became entitled to our quarterly dividend from Lowe’s, all meaningfully higher than this time last year.
How We Are Tracking
Since DivGro's inception we have predicted and benefited from 198 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.4%.
Distribution
This week, we paid our 24th consecutive quarterly distribution. Notably, this distribution is 11.5% higher than the same time last year. DivGro has grown its distributions each year by at least a double-digit percentage increase. Our quarterly distribution is already 2.7x higher than our first quarterly distribution paid in January 2020.
Roper Technologies
Roper Technologies has compounded its dividend at approximately 15% per annum for more than 30 years, powering a commensurately whopping 150x multiplication of its share price. But how? The answer lies in its unconventional yet highly effective business strategy of dominating narrow but critical niches. Roper acquires leading companies in distinctly narrow niches that fulfil mission-critical needs better and more cost effectively than competitors, including software for toll roads or school canteens, such that there is little incentive for customers to switch and limited available share for competitors to target. As Roper has evolved from dominating critical industrial machinery to vertical software networks, and given customers usually pay for its software in advance, the company’s margins have grown while its working capital needs have simultaneously shrunken. At 130-years-young and with a proven business model which lends itself to diversification across countless addressable segments, Roper is advantageously positioned to continue to flex its dividend-growth prowess.