Payout Yield

Medtronic, Inc. (NYSE:MDT) increased the size of its Share Repurchase Plan by 50 million shares or approximately 4.4% of shares outstanding. The increase brings the size of the total authorization to approximately 60 million shares. In addition, the company increased its dividend by 14% to a quarterly figure of $0.125 per share of the Company’s common stock.

During the past two fiscal years, Medtronic has paid $969 million in dividend payments and repurchased 90.6 million shares of its common stock with a value of more than $4.6 billion, for a combined total cash return to shareholders of more than $5.7 billion. The company committed to to continue to explore ways to further enhance shareholder return as Medtronic achieves its growth goals.

Medtronic, Inc. is a global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world.

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PAYOUT YIELD ANALYSIS

With 1.14 billion shares outstanding, the current authorization of 60 million shares would yield $2.74 per share. Combined with the new, higher annual dividend of $0.50, the Total Payout will be $3.24.  At a share price of $52, the Total Payout Yield would be 6.2% if the repurchase is completed over the next 4 quarters.

- Payout Yield Staff