Medtronic PLC (NYSE:MDT) Announces $0.72 Quarterly Dividend

Key Points

• Medtronic declared a quarterly dividend of $0.72 per share, payable October 16 to shareholders of record on September 25. The dividend implies an annualized payout of $2.88 and a 3.1% yield.
• Medtronic has raised its dividend for 49 consecutive years, with a current payout ratio of 47.8%. Analysts expect the dividend to remain well covered, projecting a future payout ratio of about 45.1%.
• The company recently exceeded quarterly earnings and revenue expectations, reporting $1.55 in EPS and $9.81 billion in revenue, up 9.9% year over year. Its shares opened at $92.45, while analysts expect approximately $5.94 in EPS for the current fiscal year.

Medtronic PLC (NYSE:MDT - Get Free Report) declared a quarterly dividend on Thursday, August 20th. Investors of record on Friday, September 25th will be paid a dividend of 0.72 per share by the medical technology company on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, September 25th.

Medtronic has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 49 years. Medtronic has a payout ratio of 47.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medtronic to earn $6.38 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 45.1%.

Medtronic Trading Down 1.8%

NYSE:MDT opened at $92.45 on Friday. Medtronic has a 1 year low of $73.31 and a 1 year high of $106.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.62 and a current ratio of 2.13. The stock has a fifty day moving average price of $84.12 and a two-hundred day moving average price of $86.01. The stock has a market capitalization of $118.33 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.52 and a beta of 0.55.

Medtronic (NYSE:MDT - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The medical technology company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.01. The business had revenue of $9.81 billion for the quarter, compared to analysts' expectations of $9.62 billion. Medtronic had a net margin of 13.20% and a return on equity of 14.51%. The business's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 EPS. Medtronic has set its FY 2027 guidance at 5.900-6.000 EPS. As a group, sell-side analysts anticipate that Medtronic will post 5.94 earnings per share for the current fiscal year.

About Medtronic

Medtronic plc is a global medical technology company that develops and manufactures a broad range of therapeutic devices and health care solutions. Headquartered legally in Ireland with principal operational offices in the United States, the company markets products to hospitals, physicians and health systems worldwide and has grown from its founding in 1949 into one of the largest medical-device manufacturers serving global health-care markets.

Medtronic's offerings span several clinical areas, including cardiac rhythm and heart failure (pacemakers, implantable cardioverter‑defibrillators and related cardiac therapies), minimally invasive and surgical technologies (laparoscopic and advanced energy devices, visualization systems and surgical innovations), restorative therapies (spine and orthopedics, neuromodulation and neurovascular treatments) and diabetes management (insulin-delivery systems and glucose monitoring solutions).

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