Medtronic Announces Cash Dividend for Third Quarter of Fiscal Year 2017

DUBLIN - Dec. 9, 2016 - The board of directors of Medtronic plc MDT today approved the fiscal year 2017 third quarter cash dividend of $0.43 per ordinary share, representing a 13 percent increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in June 2016.  Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 39 consecutive years. The dividend is payable on January 13, 2017, to shareholders of record at the close of business on December 23, 2016.  The company expects that its fiscal year 2017 third quarter dividend will be treated for U.S. tax purposes as a distribution of earnings and not a return of capital. Additional information about the tax treatment of the dividend is available at investorrelations.medtronic.com.

About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies - alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 88,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

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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Contacts:
Fernando Vivanco
Public Relations
+1-763-505-3780

Ryan Weispfenning
Investor Relations
+1-763-505-4626