Medtronic to return $5 billion to shareholders
Medtronic announced that it intends to return $5 billion of the $9.3 billion to its shareholders through share repurchases to be executed before the end of fiscal year 2018.
The company expects to opportunistically utilize its existing board authorization under Medtronic's Share Repurchase Plan to repurchase shares based on market conditions, with a bias toward repurchasing shares earlier within the time period.
This $5 billion return to shareholders is in addition to the company's current commitment of returning 50 percent of its free cash flow each year to shareholders in the form of dividends and share repurchases. ■