The DivGro Weekly—02.09.22

105 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when we collected our quarterly dividends from Zoetis, MSCI and Visa.

This week we also published our August investor letter recognizing DivGro's three-year anniversary.

Having marked our calendars, we look forward to receiving our quarterly dividends from Home Depot and SBA Communications shortly.

Since DivGro's inception we have predicted and benefited from 105 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.6%.

Visa traces its origins back to 1958 as a cooperative amongst competing banks. It is now estimated that approximately half the world's population would struggle without its access to the Visa network. Having cultivated a privileged position at the apex of the digital payments universe (together with Mastercard, another DivGro holding) Visa benefits from the twin tailwinds of the shift from cash to digital forms of payment, as well as the ongoing transition of commerce online. Since its 2008 IPO, Visa has consistently demonstrated the power of the piggybank effect described in this week's letter, underwriting its ability to raise its dividend every year at a superb rate of 23% annually.