How Many Shares Would It Take to Earn $1,000 a Year From This Future Dividend King?
Key PointsWith 49 years of consecutive dividend increases under its belt, Medtronic is one year away from becoming a Dividend King.
Medtronic (MDT) has grown its annual dividend for 49 consecutive years, edging closer to Dividend King status. As of June, the company raised its quarterly dividend to $0.72 per share, resulting in an annualized dividend of $2.88. To earn $1,000 annually in dividends, an investor would need to acquire approximately 348 shares, valuing the stock around $32,792.
Despite recent modest dividend increases, Medtronic's higher-margin businesses and potential spinoff from MiniMed Group present opportunities for future dividend growth. With an 8.1% to 7.1% earnings growth forecast and a reasonable forward payout ratio, Medtronic's stock may offer a compelling entry point for income-focused investors.
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