The DivGro Weekly—06.01.23

118 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Domino's Pizza and FirstService.

Having marked our calendars, we look forward to shortly receiving our quarterly dividends from Heico and Stryker.

Since DivGro's inception we have predicted and benefited from 118 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.2%.

With its origins dating back to 1972 as a local swimming pool management company, FirstService has grown into the dominant leader in essential property management services (e.g. strata management) in North America, as well as the leading operator and franchisor of affiliated property maintenance and restoration services. Given its size advantage against an industry profile of typically small, highly fragmented competitors, FirstService consistently wins lucrative management contracts for more housing communities. Leveraging its privileged position of building/community manager, FirstService enjoys the 'inside track' in cross selling its owned and franchised services spanning maintenance, repair and restoration. By consistently taking market share from its much smaller competitors, and with millions of housing units still in need of professional management, FirstService enjoys a significant opportunity and long runway to extend its outstanding dividend growth record far into the future.