The DivGro Weekly—06.10.23

139 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we received our quarterly dividends from ADP and Nike, and became entitled to our quarterly dividends from FirstService and Intuit. These dividends are all much higher than this time last year, increasing by 20.2%, 11.5%, 11.1% and 15.4% respectively.

Since DivGro's inception we have predicted and benefited from 139 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.2%.

With origins dating back 50 years, FirstService developed into the dominant force in the provision of essential property management and restoration services in North America. Its edge is seen in services such as strata management where owner-occupiers and investor-owners alike are highly sensitive to service cost and quality. This dynamic reinforces FirstService's advantages; its greater scale means it can offer equivalent or superior service at a lower cost than its typically small and fragmented competitors, further enhancing its industry leadership. With millions of housing units yet to benefit from a transition to more professional management, FirstService is excellently positioned to enhance its already formidable position and thereby extend its impressive dividend growth record.

We were again interviewed on ausbiz, this time to discuss our most compelling QSR position - Wingstop - and compare it to the more familiar Starbucks.

Click here to access the interview (requires free registration).