15 Best S&P 500 Dividend Stocks to Buy Now

10. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Holders: 67

Medtronic plc (NYSE:MDT) ranks tenth on our list of the best dividend stocks in the broader market. The global medical device company operates across four key segments: medical-surgical, neuroscience, cardiovascular, and diabetes, offering a diverse portfolio of products.

In fiscal Q3 2025, Medtronic plc (NYSE:MDT) reported revenue of $8.3 billion, marking a 2.5% increase from the previous year, though slightly below Wall Street’s estimate of $8.33 billion. The company posted GAAP diluted earnings per share (EPS) of $1.01, while adjusted EPS rose 7% year over year to $1.39, exceeding analysts’ projections of $1.35.

Roughly half of Medtronic plc (NYSE:MDT)’s revenue comes from the US, the world’s most profitable healthcare market, while the remainder is derived from international markets, including high-growth emerging economies. The company’s core revenue is driven by its cardiovascular, neuroscience, and surgical divisions, while the diabetes segment represents a smaller portion. This diversified model enhances financial stability. Notably, the company experienced a rare decline in trailing 12-month sales of 10% during the early pandemic years when medical procedures were postponed or canceled—an event not seen since the mid-1980s.

Medtronic plc (NYSE:MDT) demonstrated a strong financial position in its latest earnings report. Over the first nine months of the fiscal year, the company generated more than $4.5 billion in operating cash flow and reported free cash flow of $3.1 billion. This solid cash position has enabled the company to increase its dividend payments for 47 consecutive years. The company’s quarterly dividend comes in at $0.70 per share and has a dividend yield of 3.09%, as of February 27.