By Colin Kellaher
Medtronic's board has bumped up its quarterly dividend by a penny, to 71 cents, marking the 48th straight year that the medical-technology company has boosted its payout.
The new dividend, equal to $2.84 a year, represents an annual yield of about 3.29% based on Tuesday's closing price of $86.37, up from 3.24%.
The 1.4% dividend increase maintains Medtronic's spot in the S&P 500 Dividend Aristocrats Index, whose 69 members have paid a higher dividend for at least 25 straight years.
The increase also keeps Medtronic's place on the smaller list of dividend kings--those who have boosted their dividends annually for at least a half century. That group currently counts 55 members, according to website Sure Dividend.
The Dublin-based company on Wednesday said the increased dividend is payable July 11 to shareholders of record June 27.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
May 21, 2025 07:02 ET (11:02 GMT)
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