Press Release

Medtronic Announces Cash Dividend for Third Quarter of Fiscal Year 2016

Medtronic plc

DUBLIN - December 11, 2015  - The board of directors of Medtronic plc (NYSE:MDT) today approved the fiscal year 2016 third quarter cash dividend of $0.38 per ordinary share, representing a 25 percent increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in June.  Medtronic has increased its annual dividend payment for the past 38 consecutive years, and is a constituent of the S&P 500 Dividend Aristocrats index.  The dividend is payable on January 15, 2016, to shareholders of record at the close of business on December 24, 2015.  While a portion of the dividend may be treated for U.S. tax purposes as a return of capital, the company expects that, over time, its dividend will be treated completely as a distribution of earnings for U.S. tax purposes.  Additional information about the tax treatment of the dividend is available by clicking on the Investors link through the Medtronic website at www.medtronic.com.

About Medtronic

Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies - alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 85,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

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Contacts:
Fernando Vivanco
Public Relations
+1-763-505-3780

Ryan Weispfenning
Investor Relations
+1-763-505-4626


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