Over the last three weeks, Medtronic has moved up from 77 on the list to 68.
This stunning jump is mainly due to two reasons: the stock getting an upgrade from Dividend.com’s DARS rating system and a dividend increase of 8.7% that goes ex-dividend this week. The stock has stood tall as the Dow has been collapsing over the past two weeks.
The stock’s strong and consistent track record of dividend growth coupled with its presence in the medical technology sector puts it in a sweet spot to break its all-time high.
Other stocks that moved up the list include Walt Disney, which moved up two spots ahead of its dividend payout coming up this week, along with Starbucks, which also moved up two spots ahead of a higher dividend payout that is coming up in August. Newcomer APD, which broke into the top 100 list a few weeks ago, moved up to 97.
With the ensuing confusion that is prevailing on Wall Street on what to make of the trade war, the Dow has remained flat over the last five trading sessions. Trump’s negotiating tactics include throwing what he wants out there and then waiting for the other party to respond. In the middle of all these events, the Shanghai Composite Index has slipped 11% over the last month. The Chinese markets are rattled by the trade war and the broader market expects China to make tariff decisions that will favor the U.S., which is the reason why their markets have fallen almost 20% this calendar year.
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