• Board authorizes $5 billion for share repurchases

DUBLIN, March 7, 2024  /PRNewswire/ -- The board of directors of Medtronic plc (NYSE: MDT) on Thursday, March 7, 2024, approved the company's cash dividend for the fourth quarter of fiscal year 2024 of $0.69 per ordinary share. This quarterly declaration is consistent with the dividend announcement made by the company in May 2023.  Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 46 consecutive years. The dividend is payable on April 12, 2024, to shareholders of record at the close of business on March 22, 2024.

In addition to approving the dividend, the board today authorized the expenditure of funds for share repurchases. Given the remaining amount under the board's March 2019 $6.0 billion authorization was $1.9 billion by the end of the last fiscal quarter, the board today authorized an incremental $5.0 billion for share repurchases. The company noted that there is no specific time period associated with today's repurchase authorization.

About Medtronic

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE:MDT), visit www.Medtronic.com and follow Medtronic on LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

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