Is Medtronic a Great Dividend Stock?
If you're looking for a dividend stock to add to your portfolio, you know there are plenty of options out there. However, if you want to make the most of your investment, you don't want to just buy any dividend stock -- you want a great one that you can buy and not worry about.
To do that, you'll need to consider not just the stock's current yield, but also its track record for increasing dividend payments and how safe those dividend payments are. Today, I'll look at whether medical device company Medtronic (NYSE: MDT) is a great dividend stock and whether you should consider adding it to your portfolio.
Currently, Medtronic pays its shareholders a quarterly dividend of $0.58. With shares of the Irish company trading at about $97, that means the dividend yield is about 2.4% -- above the S&P 500 average of about 2%. The stock ticks off the first checkbox. Next, let's take a look at whether investors can expect this dividend to grow.
Source Fool.com
