MDT - Medtronic Raised Its Dividend for a 47th Straight Year But Here's Why It Isn't a Great Dividend Growth Stock
2024-06-06 08:00:00 ET
Dividend growth stocks can make for excellent long-term investments. Their ongoing rate increases allow investors to generate more in dividend income than if they were to just invest in a stale dividend with no increases, and which inflation chips away at over time.
Medical device maker Medtronic (NYSE: MDT) falls into the category of a dividend growth stock. The company, which makes products that help treat 70 health conditions and which has a massive global presence in 150 countries, has been increasing its dividend payments for decades and has been a reliable income-generating investment to buy and hold.
But while it recently announced yet another dividend increase, investors may feel a bit underwhelmed by it. Here's why Medtronic may not be a great dividend growth stock to own, even though it has such an impressive track record for increases.
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Medtronic Raised Its Dividend for a 47th Straight Year, But Here's Why It Isn't a Great Dividend Growth Stock