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Medtronic Rewards Shareholders with 8.6% Annual Dividend Hike

Healthcare technology company Medtronic plc (NYSE: MDT) recently announced an annual dividend of $0.63 per share, an 8.6% increase from the previous dividend of $0.58.

Following the news, shares of the company rose marginally to close at $108.31 on Friday.

The dividend will be paid on April 22, 2022, to shareholders of record as of March 25, 2022.

The company’s annual dividend of $0.63 per share now reflects a dividend yield of 0.6% based on Friday’s closing price.

Notably, the company has been raising its dividend consistently over the past ten years, making it an attractive choice for investors.

Stock Rating

Recently, Bank of America analyst Travis Steed initiated coverage on the stock with a Buy rating and a price target of $135, which implies upside potential of 24.6% from current levels.

Consensus among analysts is a Moderate Buy based on 12 Buys and 7 Holds. The average Medtronic stock prediction of $123.78 implies upside potential of 14.3% from current levels. Shares have declined 7.2% over the past year.

Positive News Sentiment

News Sentiment for MDT is Positive based on 16 articles over the past seven days. 100% of the articles have Bullish sentiment, compared to a sector average of 63%.

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