While many are spending extra money and year-end bonuses on unneeded electronics and expensive gifts, I would rather put the majority of my extra money to work for me. So I started the week off right with a new purchase. I will likely have 1 or 2 more before the year is over.
I’ve been wanting to add MDT for a while to compliment my BDX stock and I decided to pull the trigger this morning. I bought 50 shares @ $42.69/share providing another $52 / year in dividend income. I will also make the December payment as the ex-dividend date is 12/13.
Medtronic is a dividend champion having increased dividends for 35 straight years. They have a 5-year CAGR of 17.8%. They have a low payout ratio of 31.8% and a TTM P/E of 13.7.
Medtronic, Inc. (Medtronic) is engaged in the medical technology – alleviating pain, restoring health, and extending life for people with chronic conditions worldwide. Medtronic develops and manufactures a range of products and therapies providing a continuum of care to diagnose, prevent and monitor chronic conditions. On January 13, 2011, the Company acquired Ardian, Inc. On February 25, 2011, the Company acquired Jolife, a privately-held company. In August 2011, the Company acquired PEAK Surgical, Inc. and Salient Surgical Technologies, Inc.
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