The DivGro Weekly—29.03.24

160 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Poolcorp and SBA Communications and become entitled to our quarterly dividends from FirstService and Stryker, all much higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 160 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.9%.

Stryker

Stryker, our medtech trailblazer, has wrestled market share from competitors since inception in 1941 and has succeeded, incredibly, in ballooning its sales growth more than 200 times since 1985. These numbers underscore a significant and propulsive lever exercised by the company to develop its upper hand: the relentless optimisation of its sales and marketing functions. How is Stryker deploying its workforce differently? By implementing expectation and compensation as key drivers — it’s well known that the company’s salesforce is expected to work harder, outsell competitors and accordingly earn higher. Thanks to this employee enculturation, Stryker’s honey pot grows handsomely. Plus, while an aging demographic bolsters demand for its portfolio — particularly for leading-edge surgical robotics — Stryker is set to travel an ascendant path of promising growth, powered by this tailwind and buttressed by an enviable 30-year stretch of rising dividends at 16% per annum compounded.