Medtronic raises quarterly cash dividend by 13%

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Medtronic raised its quarterly cash dividend 13 percent on June 24 to $0.43 per ordinary share.

The company said this is the 39 th consecutive year that it has increased its dividend. During that time period, Medtronic’s dividend per share has grown at an 18 percent compounded annual growth rate, according to a news release. The dividend has also nearly quadrupled in the past decade.

The quarterly dividend will be paid on July 27 to shareholders who held stock in Medtronic as of July 8.

Medtronic said its dividend per share payout is 40 percent of its fiscal year non-GAAP diluted earnings per share. The company plans on returning at least half of its free cash flow to shareholders via dividends and share repurchases.