The DivGro Weekly—30.09.22

108 Consecutive dividend increases

This week we received further real-time, tangible evidence of outstanding business progress when American Tower raised its quarterly dividend by 12.2%.

Since DivGro's inception we have predicted and benefited from 108 consecutive dividend increases across our portfolio companies. The average rate of these dividend increases is 15.5%.

We also collected our quarterly dividend from Domino's Pizza and look forward to receiving our quarterly dividend from Stryker shortly.

Stryker is centred around its quest to get better every day and achieves this through an unrelenting drive for sales and distribution productivity, irrespective of how challenging its external environment may be. Indeed, from humble beginnings and against large and entrenched incumbents, Stryker cultivated an edge through its intense focus on sales force optimisation. Compounded over decades, this unusual edge enabled Stryker to grow faster, with Stryker's sales force becoming the envy of the health technology industry. Importantly, by reinvesting the benefits of accelerated sales growth into R&D, Stryker has closed the product gap with competitors while extending its sales productivity advantage. This determination has been reflected in an enviable dividend growth record, with Stryker having raised its dividend every year since 1993 at a compounded average annual rate of 16%.