POST Online Media Lite Edition



 

Medtronic to return $5 billion to shareholders

Staff writer |
In September 2015, Medtronic executed an internal reorganization that resulted in $9.3 billion of cash, cash equivalents, and investments in marketable debt and equity securities net of tax.

Article continues below






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.


What to read next

Medtronic recalls several devices, FDA notified
Medtronic to acquire Covidien for $42.9 billion
Medtronic to acquire HeartWare in $1.1 billion deal