|Medtronic Announces Cash Dividend for Fourth Quarter of Fiscal Year 2019|
Board Authorizes $6 Billion for Share Repurchases
DUBLIN - March 8, 2018 - The board of directors of Medtronic plc (NYSE:MDT) today approved the fiscal year 2019 fourth quarter cash dividend of $0.50 per ordinary share, representing a 9 percent increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in June 2018. Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 41 consecutive years. The dividend is payable on April 12, 2019, to shareholders of record at the close of business on March 22, 2019.
In addition to approving the dividend, the board today authorized the expenditure of funds for share repurchases. Given the remaining amount under the board's June 2017 $5.0 billion authorization had been reduced to $1.3 billion by the end of the last fiscal quarter, the board today authorized an incremental $6.0 billion for share repurchases. The company noted that there is no specific time period associated with today's repurchase authorization.
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.