What do BinaxNOW antigen tests, continuous glucose monitors, and Pedialyte have in common? If you guessed that they're just a few of the products made by Abbott Laboratories ( ABT 0.39% ), you'd be correct.
With an intro like that, it shouldn't be surprising for anyone to hear that Abbott's $43.1 billion in 2021 revenue comes from an astoundingly diverse set of sources. Between medical nutrition products, surgical tool sets, diagnostics, and medical devices, its quarterly revenue has expanded by more than 81% in the last five years. And so has its dividend, rising by 77% in the same period.
Furthermore, Abbott's dividend has been increased for the last 50 years consecutively, making it a Dividend King. That means it's probably pretty safe to expect that its payment will keep rising over time, thereby rewarding longterm investors more and more.
If there's a market sell-off, it won't change anything about Abbott's ability to do business or the reasonable expectation that its dividend will keep growing. But it will drive the stock's dividend yield -- currently 1.5% -- upward, meaning that it'll take you less time to recoup your cost basis.
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