Medtronic Ups Dividend 7.2%

Medtronic Inc. (MDT) Has Surged To A New High On Q1 Results

Medtronic Q4 Results Top Estimates;sees FY14 EPS In Line With View - Quick Facts

Medtronic Q4 13 Earnings Conference Call At 8:00 AM ET

Trade MDT now with

6/21/2012 6:03 PM ET

Medical device maker Medtronic, Inc. (MDT: Quote) said Thursday that its board of directors has approved a 7.2% increase in its cash dividend for fiscal year 2013, raising the quarterly amount to $0.26 per share of the company's common stock for an annual amount of $1.04 per share.

The dividend is payable on July 27 to shareholders of record at the close of business on July 6.

"This dividend increase demonstrates the confidence of the board of directors and management team in the strength of the company's cash flow generation and ability to generate value for our shareholders," said Omar Ishrak, chairman and CEO. "We are committed to returning 50 percent of our free cash flow each year through dividends and share repurchases, which still gives us ample flexibility to make disciplined investments for sustainable growth."

To receive FREE breaking news email alerts for Medtronic Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

<<Previous 67 Articles

Editors Pick

Gap Profit Climbs 43%

Gap Inc. Thursday after the markets closed that its first quarter profit rose 43% from last year, helped by higher sales and improved margins. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company eaffirmed its fiscal year 2013 earnings outlook, which is below analysts' current consensus estimate.

Stocks Close Modestly Lower But Well Off Worst Levels - U.S. Commentary

After moving sharply lower at the start of trading on Thursday, stocks showed a substantial recovery attempt over the course of the trading day. The rebound came as upbeat housing data helped offset worries about the Federal Reserve. The major averages climbed well off their worst levels of the day but still ended the session in the red.

Obama Outlines Counterterrorism Policy To Confront Shifting Threats

President Barack Obama delivered a highly-anticipated speech on his administration's evolving counterterrorism policies on Thursday, suggesting that the U.S. needs to move away from a "boundless global war on terror." More than a decade after the 9/11 attacks, Obama argued that the terrorist threat has shifted and evolved.