Medtronic (MDT) Raises Quarterly Dividend 13.2% to $0.43; 2% Yield

Medtronic (NYSE: MDT) declared a quarterly dividend of $0.43 per share, or $1.72 annualized. This is a 13.2% increase from the prior dividend of $0.38.

The dividend will be payable on July 27, 2016, to stockholders of record on July 8, 2016, with an ex-dividend date of July 6, 2016.

The annual yield on the dividend is 2 percent.

"Today's double-digit increase in our dividend reflects the confidence the board and our management team has in Medtronic's ability to deliver consistent and sustainable growth, as well as to generate significant and increasingly accessible free cash flow," said Omar Ishrak, Medtronic chairman and chief executive officer. "We are deploying considerable amounts of capital strategically, consistently, and with discipline to provide attractive returns for our shareholders. This includes our focus on delivering dependable, long-term growth in our dividend."

For a dividend history and other dividend-related data on Medtronic (MDT) click here.

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