The DivGro Weekly—02.02.24

149 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from American Tower, Watsco and Stryker, and became entitled to our quarterly dividends from Costco and Texas Instruments, all meaningfully high than this time last year.

Since DivGro's inception we have predicted and benefited from 149 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 14.9%.

As we approach the significant milestone of 150 consecutive dividend increases, this week we shared an update on the drivers of our compelling dividend growth methodology, and why we believe this methodology, coupled with our Weekly Dividend Progress Updates, is a highly effective system. Our latest letter can be accessed here.

Stryker, our MedTech leader, recently crossed $20bn in annual sales for the first time, meaning it has multiplied its sales an incredible 200x since reaching the $100m sales mark in 1985. This performance has propelled its dividend in tandem, itself having compounded at approximately 16% per annum since Stryker's maiden dividend in 1993. Stryker's leading Mako robotic system has proven a runaway success since its 2013 acquisition, making procedures such as knee replacements less invasive and more effective. Such procedures allow recipients to be more active, which when combined with the aging demographic and surging popularity of sports such as pickleball, provide Stryker a virtuous cycle and extensive growth runway. With a compelling pipeline of innovative new solutions and its peerless sales force, Stryker is ideally positioned to extend its outstanding record of dividend growth and share price gains into the future.