The DivGro Weekly—25.03.22

97 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our dividends from Home Depot, Moody's and Pool Corp.

We also became entitled to our substantial special dividend from Wingstop which we covered last week.

Since DivGro's inception we have now predicted and benefited from 97 consecutive dividend increases at an average annual increase rate of 15.4%.

Similar to Watsco (analysed in our November letter), Pool Corp (POOL) demonstrates the transition of a nondescript niche distributor into a global powerhouse. Now controlling over 30% of the entire flow of North American pool supplies, POOL benefits from broader inventory, more locations, sharper prices, superior availability etc. than its many small and fragmented competitors. Gaining from the constant maintenance requirements faced by pool owners, and being by far the best option to service these needs, POOL has grown its dividend spectacularly. This has powered its share price upwards, with each $1 invested in POOL growing to $60 over the last 20 years.