The DivGro Weekly—20.05.22

100 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when American Tower raised its dividend by 12.6%. With this dividend increase we have now reached the major milestone of predicting and benefiting from 100 consecutive dividend increases since DivGro's inception at an average annual increase rate of 15.4%.

We also received our quarterly dividend from Abbott Laboratories, and became entitled to our quarterly dividends from Cintas, Visa and Pool Corp (covered in detail in our latest investor letter from earlier this week).

Tracing back over 90 years, each and every day Cintas has been providing businesses with the reassurance 'to open their doors with confidence'. Delivering critical uniform, safety and sanitation services with unwavering reliability, Cintas has developed an unshakable belief and trust amongst its clients, allowing it to grow from a handful of local clients into the dominant market leader throughout the United States. Now deeply entrenched in over a million businesses and leveraging its cost and reputation leadership to win new customers every day, Cintas has remarkably grown sales and earnings in 50 of the last 52 years. This has powered a spectacular 38 year record of continuous annual dividend increases, rising at an average of 19% per year.