Covidien Raises Quarterly Dividend 23% to $0.32/Share
plc (NYSE: COV) today announced that its Board of Directors has declared
a 23% increase in the quarterly dividend rate, from $0.26 per ordinary
share to $0.32 per ordinary share.
“This increase reflects our good performance to date in 2013 and our
confidence in further growth,” said José (Joe) E. Almeida, Chairman,
President and CEO. “We remain committed to using our strong cash flow to
fund business expansion, while returning at least 50% of our free cash
flow to shareholders through dividends and share repurchases. In the
last twelve months, we have exceeded this target, returning over 125% of
our free cash flow to shareholders.
“As we have