11 Best Halal Dividend Stocks to Buy Now

6. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 62

Medtronic plc (NYSE:MDT) has maintained steady revenue and earnings over the years, demonstrating a track record of reliable performance. The company appears well-positioned to continue generating solid returns over time. This confidence stems from its strong innovation capabilities, established presence in the complex healthcare industry, and favorable long-term trends such as the global rise in aging populations.

In fiscal Q4 2024, Medtronic plc (NYSE:MDT) reported revenue of $8.93 billion, which showed a 4% growth from the same period last year. The revenue also beat analysts’ estimates by $98.2 million. The company posted a GAAP operating profit of $1.436 billion and an operating margin of 16.1%, reflecting year-over-year increases of 36% and 380 basis points, respectively.

Medtronic plc (NYSE:MDT)’s cash position remained stable in FY25. The company’s operating cash flow for the year was $7 billion, and its free cash flow amounted to $5.2 billion. It ended the year with $2.2 billion available in cash and cash equivalents. The company offers a quarterly dividend of $0.71 per share, having raised it by 1.4% in May. This marked the company’s 48th consecutive year of dividend growth, which makes it one of the best halal stocks that pay dividends. As of July 18, the stock has a dividend yield of 3.17%.