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Medtronic nears Dividend King milestone with 49 straight payout hikes
The medical device maker raised its quarterly dividend to $0.72 per share in June 2026, bringing the annual payout to $2.88, and its fiscal 2026 free cash flow covered dividends comfortably.
Medtronic plc is one dividend increase away from reaching “Dividend King” status after raising its payout for 49 straight years, according to Yahoo Finance. The company lifted its quarterly dividend to $0.72 per share in June 2026, bringing the annual dividend to $2.88.
At a share price around $91, the annual payout implies a yield of about 3.2%. Yahoo Finance also notes the most recent increase was modest, about 1.4%, but the company has continued to grow the dividend through recessions, healthcare policy changes, and periods when its own growth was less strong.
Cash flow underpins the payout, with Medtronic generating $7.33 billion in operating cash flow in fiscal 2026, up 4.1% year over year, and free cash flow of $5.43 billion, up 4.6%. The company paid about $3.64 billion in dividends, leaving free cash flow to support other priorities such as capital spending, acquisitions, debt reduction, and share buybacks.
The dividend story is also tied to improving business momentum. Revenue rose 8.4% to $36.4 billion in fiscal 2026, with organic revenue up 5.8%, the article says, marking Medtronic’s strongest annual growth in a decade.