The DivGro Weekly—19.05.23

132 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Abbott and Texas Instruments, both meaningfully higher than this time last year.

Having marked our calendars, we also look forward to shortly receiving our quarterly dividends from Cintas, Microsoft, and Pool Corp, all significantly higher than the same time last year.

Since DivGro's inception we have predicted and benefited from 132 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.4%.

Abbott, our 135-year-old healthcare and medical devices titan, is closing in on the remarkable feat of 100 years of uninterrupted quarterly dividend payments. A good example of Abbott's resilience is the strong ongoing recovery in its paediatric and geriatric nutritional formula business. After impurities were found about a year ago leading to recalls, this division was effectively put on hold for about 9 months. Since millions of users tolerate Abbott's formulations better than alternatives, coupled with Abbott's esteemed reputation and formidable marketing muscle, this division is rapidly regaining momentum and market share. Abbott's unrelenting focus on always improving the company, as well as its ability to navigate the occasional challenges which inevitably arise, have underwritten its 51-year record of significant annual dividend increases, and reinforces the prospects of this successful dividend growth record continuing long into the future.