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Better Dividend Stock: Abbott Laboratories or Medtronic?

TheMotleyFool

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Better Dividend Stock: Abbott Laboratories or Medtronic?: https://g.foolcdn.com/editorial/images/722371/dividend-concept.jpg

Dividend stocks tend to outperform other asset classes during economically challenging times. The simple reason is that companies with mature businesses, and hence stable free cash flows, are typically less sensitive to economic headwinds.

The dividend powerhouses Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) apparently didn't get this memo, however. Despite both companies raising their dividends for over four straight decades, Abbott and Medtronic's shares actually sank faster than the broader markets over the course of 2022.