The DivGro Weekly—02.12.22

112 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Visa, MSCI and Zoetis.

Having marked our calendars, we look forward to receiving our dividends from S&P Global and Home Depot shortly.

Since DivGro's inception we have predicted and benefited from 112 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.4%.

As the most dominant player in the home improvement space, Home Depot earns an effective royalty on the repair and maintenance of the 140+ million homes in America. These homes, which for many homeowners represent their primary asset, are gradually becoming more valuable but also getting older. As these homes age they demand ever greater repair and maintenance expenditure to preserve or enhance their value and utility. From Home Depot's perspective, this installed base of aging houses becomes a more valuable opportunity with every passing year. Now that the average age of an American home exceeds 40 years (an important inflection point for repair spend), and with its ability to consistently take incremental market share, Home Depot is poised to continue powering its dividend higher, expanding its magnificent track record which has seen its dividend rise by 4300x since initiating dividends in 1987.