2024-03-24 08:15:00 ET
There are plenty of dividend stocks on the market. However, some raise their payouts irregularly, while others don't have businesses that look robust enough to support payout growth for a long time. Ideally, income-seeking investors want to avoid these situations. They prefer dividend-paying companies that can afford to raise their payouts regularly and aren't at risk of reducing or suspending their dividend programs.
Let's look at one stock that can give income-seekers precisely what they want: Swiss pharma giant Novartis (NYSE: NVS) .
Novartis is one of the largest drugmakers in the world, with a deep lineup of medicines, many of which make over $1 billion per year. Of the 13 blockbusters it had in its portfolio last year, 10 grew their sales year over year.
For further details see:
1 Magnificent Dividend Stock to Buy and Hold