The DivGro Weekly—20.09.24

168 Consecutive dividend increases

Weekly Dividend Progress

This week we received further real-time, tangible evidence of outstanding business progress when Microsoft raised its dividend by 10.7%. We also collected our quarterly dividends from S&P Global, Home Depot and Alphabet and became entitled to our quarterly dividend from ADP, all meaningfully higher than this time last year.

How We Are Tracking

Since DivGro's inception we have predicted and benefited from 168 consecutive dividend increases across our portfolio companies, with no decreases. The average rate of these dividend increases is 14.81%.

S&P Global

Founded in 1860, S&P Global began as a specialist railroad industry data provider, evolving to boast one of the most stellar dividend growth records today. For a half-century, S&P Global has raised its dividend every year at a highly impressive rate, propelling a commensurately superb share price trajectory. So, how has it accomplished this? Among its trophy businesses, the ownership of the intellectual property of the S&P500 index and trademark has shaped S&P Global into an effective toll collector over the financial industry’s most heavily trafficked and traded metric. How effective? Take its partnership with the Chicago Mercantile Exchange (CME) for the trading of CME’s S&P500 and S&P500 mini contracts. These contracts are a major and increasing profit centre for the CME — and while CME performs most of the heavy lifting, S&P Global benefits from each traded contract. These lucrative adjacencies, reinforced by S&P Global’s entrenched duopoly with Moody’s (another DivGro holding) in the global debt ratings marketplace, position the company in excellent stead to extend its magnificent dividend growth record.