Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. MDT's next quarterly dividend payment will be made to shareholders of record on Friday, October 16. Medtronic 's (NYSE:MDT) next quarterly dividend will be $0.58 per share, the medical device maker's board of directors has declared.
As a Dividend Aristocrat, Medtronic looks to be a safe bet to continue raising its payouts for the foreseeable future. The company's product lines include cardiac rhythm management, neurological and spinal, vascular and cardiac surgery.
Nonetheless, even if the company raises its dividend at a lower rate going forward, it'll likely still be much higher than the rate of inflation. In May, the company announced that it would be increasing its quarterly dividend payments from $0.54 to $0.58. 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.
The company has grown its dividend for the last 24 consecutive years and is increasing its dividend by an average of 8.28% each year.
Although COVID-19 cases are spiking in the U.S. again, which could jeopardize the economy's recovery, these are still short-term issues that shouldn't impact the attractiveness of Medtronic as a long-term investment.
Jefferies analysts were skeptical of this promise. The company has grown its dividend for the last 24 consecutive years and is increasing its dividend by an average of 8.28% each year.
At the investor event, Medtronic announced it increased long-term organic growth guidance to 5%-plus (up from 4%-plus) while maintaining its drive to 8% adjusted earnings per share growth with dividends growing in line with earnings. Fisker Inc (NYSE:SPAQ) Stock: The Next Big Player in EV?
The positive news, however, is that with free cash flow of $1.1 billion, Medtronic still had plenty of room to cover its dividend payments of $724 million during the quarter.
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Unfortunately, the stock itself has been underwhelming in 2020. Another important question, however, is how big those hikes have been.
See what's happening in the market right now with MarketBeat's real-time news feed. Medtronic is the world's leading medical technology company, pioneeringdevice-based therapies that restore health, extend life and alleviate pain.Primary products include those for bradycardia pacing, tachyarrhythmiamanagement, atrial fibrillation management, among others. Dividend Growth Years; MDT: Medtronic PLC 144.64 2.32 0.58 09/24/2020 2.15% 43 Stay up to Date Find all the companies that have increased their dividends for more than 25 consecutive years in our 25-Year Dividend-Increasing Stocks page, and all companies that have increased their dividends for more than 10 years in a row in our 10-Year Dividend (1992-01-06 - 2020-09-24).
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