3 Reasons to Buy This Newly Minted Dividend King

Last month, the diversified healthcare company Abbott Laboratories (NYSE: ABT) raised its quarterly dividend 4.4% from $0.45 to $0.47 per share. This marked the 50th consecutive year that the stock has increased its payout, which means that the stock will become a Dividend King in the likely event that it sticks with this dividend throughout the year.

But there are also other reasons to buy Abbott. Let's take a look at three factors that make the stock a buy.

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Source Fool.com