Business
Is Sonic Healthcare (ASX:SHL) a dividend aristocrat?
One of the true stand-out results from last month’s reporting season came from medical diagnostic company Sonic Healthcare Limited (ASX: SHL). The company benefitted from the surge in demand resulting from COVID-19 and, in the six months to 31 December 2021, revenue was up 33% over the comparable period, while net profit after tax (NPAT) rocketed 166%.
Importantly for income investors, Sonic Healthcare also announced a 6% increase to its interim dividend, building on a strong history of dividend increases. But is it enough to classify Sonic Healthcare as a ‘dividend aristocrat’?
What is a dividend aristocrat?
The term ‘dividend aristocrat’ is used to describe a company that has increased its dividend consecutively for 25…
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