Medtronic Is Just 1 Year From Dividend King Status. Should You Buy the Stock Before It Gets There?
The medical device giant deserves a lot more attention.
Overview
Medtronic (NYSE: MDT), one of the world's largest medical device makers, raised its dividend for the 49th consecutive year this June. If it raises its dividend again next year, it will cross the 50-year threshold required for becoming a Dividend King.
But over the past five years, Medtronic's stock has declined 31%. Even with reinvested dividends, it delivered a negative total return of 19%. Let's see why Medtronic's stock slumped, and why it might be worth buying as an income-generating turnaround play.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.