If you told most investors that there was an ASX 200 stock on the share market that hasn't cut its dividend in 121 years, they'd probably want to know a little more.
After all, a company's dividend history is arguably an effective barometer of how financially successful it is and how it has delivered for shareholders over long periods of time.
Management teams can talk about future growth, exciting opportunities, a stock market that isn't seeing true value, or how their company's shares are on the precipice of exploding all they want. But seeing cash move from a company to its shareholders over many years instils confidence like nothing else. It's the corporate equivalent of putting one's money where one's mouth is.
An ASX 200 stock that happens to be able to boast of a 121-year streak of delivering absolute dividend stability is Washington H. Soul Pattinson and Co Ltd (ASX: SOL). So I guess you might want to hear some more about this white whale.
An ASX 200 stock with a 121-year history
Washington H. Soul Pattinson and Co, or Soul Patts for short, is an ASX 200 stock that functions as an investing house. It managed a huge portfolio of diverse assets on behalf of its shareholders.
This company's portfolio has changed considerably over time. It used to be locked up in large stakes of a very exclusive set of other ASX shares. It still has this 'Strategic Portfolio', with substantial stakes in TPG Telecom Ltd (ASX: TPG), Brickworks Ltd (ASX: BKW), New Hope Corporation Ltd (ASX: NHC) and more.
But Soul Patts also owns a large and diversified portfolio of ASX 200 blue chip stocks. This includes everything from Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP) to CSL Ltd (ASX: WOW) and Macquarie Group Ltd (ASX: MQG).
This 'Large Caps' portfolio is part of Soul Patts, thanks to its acquisition of its old owner, Milton Corporation, a few years ago.
In addition to these share-based investments, this ASX 200 stock also has other investments, including property, unlisted stock, private credit and venture capital.
What about the dividends?
But let's get down to the dividend talk.
Soul Patts has been around since the 19th century, but was first listed on the ASX in 1903. Since then, this ASX 200 stock has paid out a consistent dividend every single year. The interim dividend that investors will enjoy on 11 May later this month will mark the 121st year this streak has continued.
What's more, Soul Patts has also increased its annual dividend every year since 2000. That's a feat no other ASX 200 stock, or any stock on the ASX for that matter, can boast of.
So it's clear that Soul Pattinson's diversified approach is successful, literally paying dividends for more than a century. Let's see if it can keep it up over the next 121 years.
