However, the most important factor to consider when understanding a dividend's future is where the company's cash flow is heading. It's hard to generate more cash without growing sales, so let's look at what industry analysts are expecting for St. Jude Medical's revenue growth relative to peers this year. Foolish bottom line St. Jude Medical has been dealing with a sluggish cardiac rhythm management devices market, which has seen implant volume decline across the United States. Struggles at home, combined with lower volumes driven by Europes economic struggles, have largely offset growth in Asia and other parts of the world. But while the top-line picture seems a bit uncertain in the near term, St. Jude is considered a leader in a medical-devices market benefiting from some long-term demographic shifts.