The DivGro Weekly—10.01.25

177 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when we received our quarterly dividends from ADP, FirstService, Nike and Pepsico and became entitled to our quarterly dividends from Heico and Roper Technologies, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 177 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.56%.

ADP

More than one million global businesses, spanning more than 42 million employees, trust Automatic Data Processing (ADP) with their payrolls. How come? Payroll processing is relatively straightforward for small businesses with few employees — but what about companies with much larger workforces? At a certain size, it becomes both logical and cheaper to outsource and ADP is the obvious choice. How so? Established more than 75 years ago, ADP has fostered an unparalleled sense of trust in users that doubles as a competitive edge others cannot bridge. Plus, as the most experienced and largest provider, ADP offers the most comprehensive, reliable and cost-effective service available. As such, many global companies opt for ADP given most alternatives lack its global footprint or breadth of service. Forecasting into the future, the odds continue to favour ADP. As employee-related legislation and taxes increase in complexity, and as businesses become progressively international, the changing landscape lends itself well to ADP’s expansion as well as the reinforcement of its entrenched advantages, fuelling a likely extension of the company’s superb 50-year dividend growth record.