Medtronic (MDT) Receives Irish high Court Approval for Share Premium Reduction

Medtronic (NYSE: MDT) announced that the Irish High Court has approved the company's share premium reduction petition, creating the distributable reserves needed to support share repurchases or redemptions and payment of the cash dividend of $0.305 per ordinary share that was previously announced on February 13, 2015. The dividend remains payable on April 17, 2015, to shareholders of record at the close of business on March 30, 2015. The quarterly dividend represents a 9% increase over the prior year. Medtronic, a constituent of the S&P 500 Dividend Aristocrats index, has committed to returning 50 percent of its free cash flow to shareholders through dividends and share redemptions.

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