Medtronic Inc. (NYSE:MDT) will again pay its regular quarterly dividend, reporting it will distribute 20.5 cents per share to stockholders of record on April 9.
The dividend is payable on April 30, officials at the Minneapolis-based device giant said.
Medtronic last summer bumped its dividend by 1.75 cents per quarter, or 7 cents per year, increasing the total fiscal 2010 payout to 82 cents per share from the 75 cents per share paid during fiscal 2009. Since fiscal 2008, when Medtronic paid a 50 cent dividend for the year, the company has now boosted its dividend nearly 65 percent.
With more than 1.1 billion shares outstanding, Medtronic is on a pace to pay out $900 million in dividends before the current fiscal year ends in late April.