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Medtronic Approves $6 Bln Share Buyback

Medtronic PLC (MDT), Friday said its board authorized a new plan to buy back up to $6 billion in shares.

The medical device company said it earlier had $1.3 billion in share buyback authorization left in a $5 billion plan approved in June 2017.

The board also approved fourth-quarter cash dividend of $0.50 per share, representing a 9 percent increase over the prior year. The dividend is payable on April 12, 2019, to shareholders of record at the close of business on March 22, 2019.

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