Medtronic Raises Dividend by 9%

I was very curious to see how Medtronic ($MDT) would open today, and the shares have opened higher. As a very general rule, stocks of acquiring companies usually fall on the news of a buyout, while the company being bought soars. Covidian (COV), not surprisingly, is much higher today, but it’s interesting that Medtronic is up as well. I suspect the market likes this deal and is particularly fond of the tax issue.

As if there’s not enough Medtronic news this morning, the company also announced a 9% increase to its dividend. The quarterly dividend will rise from 28 cents per share to 30.5 cents per share. For the year, that’s $1.22 per share. This is the 37th year in a row that Medtronic has increased its dividend.

The stock is currently at $63.35 which is a gain of 4.37%.

Posted by on June 16th, 2014 at 9:53 am


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