Thursday, June 20, 2013
Dividend Increase: MDT
Medtronic (MDT) is increasing its quarterly dividend by 7.7%, from $0.26 to $0.28 per share, putting the company on track for its 36th consecutive year of dividend growth (news release). Given that I own 55 shares of MDT, my quarterly dividend increases from $14.30 to $15.40 and my yield on cost becomes 3.46%. The extra $4.40 in annual dividend income raises my forward 12-month dividend total to $2,417. Thus far this year, there have been dividend increases for 18 of the 28 stocks in my portfolio.