The DivGro Weekly—15.07.22

101 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividend from Heico. Having already marked our calendars we eagerly anticipate receiving our dividends from Abbott Laboratories and Watsco, both higher than this time last year.

We also look forward to paying DivGro investors our quarterly distribution next week. This will be our 11th consecutive quarterly distribution, and 11.5% higher than this time last year.

Since DivGro's inception we have predicted and benefited from 101 consecutive dividend increases at an average annual increase rate of 15.6%. 

Watsco is the undisputed leader in HVAC distribution throughout North America. By leveraging this privileged position, Watsco already benefits from the natural repair and replacement cycle of the existing installed base of 110 million systems. This upgrade cycle is beginning to accelerate as homeowners - led initially by the most environmentally conscious - recognise that switching to higher efficiency HVAC systems is one of the most meaningful steps available to reduce their electricity costs and carbon footprint. Indeed, according to the US Department of Energy "heating and air-conditioning accounts for roughly half of household energy consumption." This factor, further accelerating Watsco's already impressive growth rate, bodes especially well for Watsco to extend its superlative dividend growth record, having risen 78x since 2000.