1 Magnificent Dividend Stock to Buy and Hold

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 (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.

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Source Fool.com