The DivGro Weekly—24.06.22

101 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 and Home Depot.

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

We look forward to receiving our quarterly dividends from Nike and Domino's Pizza next week. These dividends are materially higher (11% and 17% respectively) than this time last year.

Each and every day, without exception, American homes deteriorate fractionally, requiring repair and maintenance which consistently refuels ongoing demand for Home Depot's products. Indeed, of the total aggregate spend on such home repair and improvement products across North America, Home Depot takes almost 20 cents of every dollar. This leading share is rising, and on nearly every earnings call the company repeatedly reinforces the mantra that Home Depot "can take share in any environment". Homeowners have little to no choice regarding these repairs, and because home prices tend to appreciate over the longer term, most homeowners see this spend as additive to home values. Home Depot's enviable market position, coupled with favourable demand dynamics have powered its dividend higher by 4300x since initiating quarterly dividends in 1987.