The DivGro Weekly—27.05.22

100 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Texas Instruments, MarketAxess and Pool Corp.

We also became entitled to our quarterly dividends from Moody's and SBA Communications.

Since DivGro's inception we have predicted and benefited from 100 consecutive dividend increases at an average annual increase rate of 15.4%.

With its origins dating back to 1930, Texas Instruments (TI) has successfully reinvented itself over and over and is today a dominant force in analog semiconductors. While mission critical and relatively inexpensive, analog chips enjoy very long product cycles with slow obsolescence, making them a more predictable business to invest in compared to the rapidly changing and hyper competitive digital equivalents. Unlike smaller competitors who outsource fabrication and manufacture on a just-in-time basis, TI owns most of its fabrication facilities and can afford to actively invest in greater inventories, thereby assuring supply for its 100,000+ customers (and taking significant market share when competitors are out of stock). This edge has helped TI raise its dividend every year since 2004 at an astounding compounded average rate of 25% per year.