12 Best Mid-Cap Dividend Aristocrats to Invest in Now

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2. Perrigo Company plc (NYSE:PRGO)

Number of Hedge Fund Holders: 31

Perrigo Company plc (NYSE:PRGO) is an Ireland-based company that focuses on providing self-care products and over-the-counter (OTC) health and wellness solutions. The company aims to improve personal well-being by enabling consumers to take an active role in preventing or managing treatable health conditions on their own.

In the fourth quarter of 2024, Perrigo Company plc (NYSE:PRGO) reported revenue of $1.3 billion, which showed a significant growth of 15.4% from the same period last year. However, it still missed analysts’ estimates by $1.83 million. The company reported average daily crude oil production of 171.3 thousand barrels and total average production of 368.4 thousand barrels of oil equivalent. For 2025, the company plans to increase annual production by 8% while maintaining its capital budget at around $2 billion, the same level as in 2024. This improved capital efficiency compared to the previous year is attributed to its disciplined development strategy and a significantly reduced cost structure.

During the quarter, Perrigo Company plc (NYSE:PRGO) generated $872 million in operating cash flow, and its free cash flow amounted to $400 million, which highlights the company’s strong cash position. The company’s 22-year dividend growth streak is attributed to its cash generation, which makes PRGO one of the best dividend stocks on our list. Currently, it pays a quarterly dividend of $0.29 per share and has a dividend yield of 4.6%, as of May 5.

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