Thursday, June 21, 2012
Dividend Increase: MDT
Medtronic (MDT) is increasing its quarterly dividend by 7.2%, from $0.2425 to $0.26 per share, putting the company on track for its 35th consecutive year of dividend growth. Given that I own 55 shares of MDT, my quarterly dividend increases from $13.34 to $14.30, which will add an extra $3.84 to my annual dividend income. This dividend increase also boosts my yield on cost to 3.21%. Thus far this year, there have been dividend increases for 15 of the 22 dividend growth stocks in my portfolio.