By Colin Kellaher

Medtronic PLC on Thursday said its board raised the quarterly dividend by 8.6%, to 63 cents a share from 58 cents.

The new payout, equal to $2.52 a year, represents an annual yield of about 2% based on Wednesday's closing price of $126.27, up from about 1.84%.

The Dublin-based medical-technology company said the increased dividend is payable July 16 to shareholders of record June 25.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 27, 2021 07:13 ET (11:13 GMT)

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