The DivGro Weekly—04.03.22

96 Consecutive dividend increases

This week each of Domino's Pizza, SBA Communications and S&P Global increased their dividends, by 17%, 22% and 10% respectively. These significant increases provide further real-time, tangible evidence of excellent business progress.

Since DivGro's inception we have predicted and benefited from 96 consecutive dividend increases at an average annual increase rate of 15.4%.

We also received our dividends from Starbucks, MSCI, Visa and Zoetis (covered in detail in our recent investor letter).

SBA, our faster growing wireless infrastructure company, is rapidly evolving into an emerging dividend powerhouse. Deep in its 2020 annual report is one of the most promising commitments a dividend growth enthusiast could hope to find: "We consider the dividend to be sacred and growing it at a healthy clip remains a top priority". With a further 22% dividend increase announced this week, SBA has already provided us with dividend increases of 26%, 25% and 22% since establishing our position, taking our total cumulative increase to 93% already. Since most of SBA's earnings are in fact reinvested back into the build out and acquisition of further high-return telecommunication towers, its prospects for future dividend outperformance are outstanding.