Medtronic plc (NYSE:MDT) is included among the Best Stocks for a Dividend Stock Portfolio.
Medtronic plc (NYSE:MDT), one of the leading names in medical devices, has faced some challenges in recent years but has taken measures to address them, with a particular emphasis on strengthening profitability. In the past, the company considered spinning off certain divisions and ultimately decided to separate its diabetes care segment. This unit, being the only consumer-facing business and carrying thinner margins compared to other operations, is expected to support earnings improvement once separated.
At the same time, Medtronic plc (NYSE:MDT)’s core operations remain solid. As one of the largest medical device makers globally, it serves a wide range of therapeutic areas. Its ongoing efforts to develop and launch innovative products have helped drive steady revenue and profit growth.
In addition, Medtronic plc (NYSE:MDT) is a strong dividend company with 48 consecutive years of dividend growth under its belt. This means that the company is just 2 years away from becoming a Dividend King. The company offers a quarterly dividend of $0.71 per share and has a dividend yield of 2.98%, as of September 18.
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