Medtronic Declares Fresh Dividend; Yield Is 2.3%

Medtronic's (NYSE: MDT) next quarterly dividend will be $0.58 per share, the medical device maker's board of directors has declared. This is to be paid on Oct. 16 to stockholders of record as of Sept. 25.

The amount matches the previous payout, which was dispensed in July. Previous to that, Medtronic had paid $0.54 per share. The company is a Dividend Aristocrat, which means it is one of the few S&P 500 index components that has raised its distribution at least once annually for a minimum of 25 years in a row. Since the beginning of 2010, Medtronic's dividend has risen steadily, from just under $0.21 per share to the current level.

At the current share price, the payout yields 2.3%.

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Source Fool.com