The DivGro Weekly—26.09.25

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 dividend from Home Depot and became entitled to our quarterly dividends from Constellation Software and Danaher.

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%.

Home Depot

Home Depot has multiplied its dividend an astounding 5100x since its maiden dividend in 1987. Over this period, the home repairs and maintenance giant’s dividend growth trajectory has powered a superlative stock price appreciation in tandem. Today, the company commands approximately 20% of the one-trillion-dollar North American marketplace, while Lowe’s, another DivGro holding, commands almost 15%. Instead of competing head-on, both behemoths focus on conquering their respective geographic fiefdoms and taking share from lesser players. The result? Home Depot continues to unlock efficiencies across every facet of its business, sharing cost savings with customers and generating a virtuous cycle of price leadership and customer loyalty. Given its leadership across both DIY and small, immediate needs of professional tradespeople, Home Depot recently acquired SRS and GMS as a springboard to dominate the larger, institutional-size project space. With this new growth avenue, and with the average US home now more than 40 years old, Home Depot is poised to extend its stellar dividend growth record long into the future.