Medtronic has raised its quarterly dividend for 49 consecutive years, one year short of Dividend King status, which requires 50 years. At an annualized dividend of $2.88 per share, roughly 348 shares, costing about $32,792, would generate $1,002.24 in annual dividend income, a yield of around 3%. Recent dividend increases have been modest, at 1.4% this year and an average of 2% over three years. The spinoff of MiniMed, its lower-margin diabetes business, completed via an exchange offer this week, lets Medtronic focus on its higher-margin cardiovascular, neuroscience and surgical businesses. Analysts estimate earnings growth of 8.1% and 7.1% for the fiscal years ending January 2027 and January 2028, and with a 48% forward payout ratio, that could support larger dividend increases.
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