Medtronic Raises Dividend By 8%

For the 34th year in a row, Medtronic ($MDT) is raising its quarterly dividend. The company is increasing it from 22.5 cents per share to 24.25 cents. That’s an 8% increase. Annualized, the dividend rises from 90 cents per share to 97 cents per share.

Going by the price as of 1 pm today, that comes to a yield of 2.56%.

Last month, MDT told us to expect earnings for this year between $3.43 per share and $3.50 per share. Their fiscal year ends in April. This means the stock is going for 11 times the low-end of the company’s own forecast.

Posted by on June 23rd, 2011 at 12:56 pm


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