10 Safest Dividend Stocks in the UK

3. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 42

AstraZeneca PLC (NASDAQ:AZN) is a multinational pharmaceutical and biotech company that specializes in a wide range of innovative medicines. In the fourth quarter of 2024, the company posted revenue of $14.9 billion, up 24% from the same period last year. The company successfully completed nine high-value Phase III studies during the year. Combined with rising demand for its medicines across key regions, this is expected to support its growth momentum into 2025. The company’s primary revenue driver remains the sales of its own medications. During the period, it saw notable growth in its oncology and respiratory and immunology segments, with sales increasing by 24% and 25% year over year, respectively. Meanwhile, its cardiovascular, renal, and metabolism (CVRM) division also performed strongly, recording a 20% increase.

AstraZeneca PLC (NASDAQ:AZN) also demonstrated a strong cash position in FY24. The company posted an operating cash flow of nearly $12 billion, up from $10.3 billion in 2023. Moreover, it ended the quarter with $5.4 billion available in cash and cash equivalents. During the year, it returned $4.6 billion to shareholders through dividends.

Parnassus Investments also highlighted this in its Q2 2024 investor letter. Here is what the firm has to say:

“AstraZeneca PLC (NASDAQ:AZN) gained after announcing robust first-quarter results and setting 2030 targets at an Investor Day that were above consensus expectations. We continue to believe that AstraZeneca’s robust pipeline and industry-leading innovation in oncology should support above-expectation revenue growth for the next several years.”

On February 6, AstraZeneca PLC (NASDAQ:AZN) announced a second interim dividend of $2.10 per share, bringing the total declared dividend for fiscal year 2024 to $3.10 per share, reflecting a 7% increase. The company also plans to raise the dividend further in fiscal year 2025. It is one of the best FTSE dividend stocks on our list as the company has been paying regular dividends to shareholders for the past 32 years. The stock supports a dividend yield of 2.13%, as of February 10.