2 High-Yield Dividend Stocks to Buy and Hold for a Decade

Amid the largest IPO in history, which we recently witnessed, and the booming artificial intelligence industry that continues to show highly attractive prospects, there remain serious economic and geopolitical tensions that could eventually significantly cool much of the excitement on Wall Street. Inflation is on the rise, some economists continue to warn that a recession may be coming, and although the United States and Iran seem to be working toward a deal, it remains hard to predict how that situation will evolve.

In the current environment, it is a good idea to consider investing in dividend stocks. They may not be particularly "exciting" choices right now, but solid dividend payers can help stabilize a portfolio in case the going gets rough and smooth out market losses in a downturn. With that said, let's consider two excellent dividend stocks that are worth investing in right now: Pfizer (NYSE: PFE) and Medtronic (NYSE: MDT). Both healthcare leaders could deliver competitive returns through the next decade.

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1. Pfizer

Pfizer has not performed well in recent years due to poor financial results and upcoming patent cliffs, notably for its anticoagulant Eliquis, one of its best-selling drugs. It will lose patent exclusivity by the end of the decade. However, the company is developing new products that could help it overcome these challenges. Pfizer has significantly expanded its pipeline in recent years, partly thanks to acquisitions, and now boasts a deep portfolio of investigational medicines.

The most promising might be in oncology and weight loss. In the latter therapeutic area, Pfizer is developing an anti-obesity medicine, MET-097i, which it hopes will be highly differentiated from current market leaders, thanks to its better safety profile and long-acting properties.

In oncology, Pfizer is working on highly promising cancer medicines, including PF'4404, which could challenge the current leader in the cancer drug market, Keytruda, across several niches. Of course, Pfizer has plenty of attractive candidates beyond those, and for what it's worth, some of the company's newer launches have already started contributing meaningfully to its financial results. That's the case with Abrysvo, a vaccine for the respiratory syncytial virus.

Pfizer should overcome recent challenges thanks to its deep pipeline. Meanwhile, the company offers a highly attractive forward yield of 6.8% and has not suspended its dividend program despite the significant challenges it has encountered of late. Pfizer could continue rewarding its shareholders with payout increases over the next decade while bouncing back and delivering much better returns.

2. Medtronic

Medtronic's shares recently fell after earnings (for the fourth quarter of its fiscal year 2026, ending April 24), as the company's guidance missed Wall Street's estimates. The medical device specialist could face a challenging next few years as it navigates tariffs and other macroeconomic factors that might increase its costs and squeeze its profits and margins. However, Medtronic remains an attractive long-term dividend stock. The company's vast lineup across multiple therapeutic areas allows it to generate consistent revenue, and it also has several opportunities that will eventually help boost sales growth.

Last year, Medtronic finally received U.S. clearance for its Hugo robotic-assisted surgery (RAS) system for urologic procedures. This milestone will help it tap into the attractive and underpenetrated RAS market. It will take some time for Medtronic to ramp Hugo sales, but it should eventually become a meaningful growth driver, especially as it earns additional indications. Medtronic should also succeed in finding additional growth avenues, and, over the long run, the company will benefit from secular tailwinds -- such as an aging population -- that will drive increased demand for its products.

Finally, Medtronic has an exceptional dividend track record. The company offers a juicy forward yield of 3.63%, and it has increased its payouts for 48 consecutive years. This long streak is likely to continue for the foreseeable future, making Medtronic a great pick for income seekers.

Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Medtronic and Pfizer. The Motley Fool has a disclosure policy.