Medtronic (MDT) Dividend History & Yield
Dividend ContenderMedtronic (MDT) has increased its dividend for 13 consecutive years and currently yields 3.63%. The most recent dividend was $0.7100/share on Apr 17, 2026, paid Quarterly.
MDT
Current Yield
3.63%
TTM Dividend/Share
$2.84
Payment Frequency
Quarterly
Payout Ratio
79.1%
Consecutive Growth Years
13 (Dividend Contender)
Div Growth (1Y CAGR)
1.43%
Div Growth (5Y CAGR)
4.42%
Div Growth (10Y CAGR)
6.95%
Dividend health
Chowder score
8.1%
FCF payout ratio
16.9%
Net debt / EBITDA
2.9x
Interest coverage
8.90x
ROIC (TTM)
6.8%
Dividend Safety Score
7 out of 8 checks passed
Payout ratio below 75%
Payout ratio is 79.1%, above the 75% threshold.
Free cash flow covers dividend
FCF/share ($4.03) covers dividend/share ($2.84).
No dividend cuts in 10+ years
No dividend cuts in the last 10 years.
Positive earnings growth trend
Earnings per share have grown over the past 5 years.
10+ years of consecutive growth
13 consecutive years of dividend growth.
FCF payout ratio below 70%
FCF payout ratio is 16.9%, below the 70% threshold.
Net Debt/EBITDA below 3x
Net Debt/EBITDA is 2.9x.
Dividend growth ≤ earnings growth (5Y)
Dividend growth (4.4%) ≤ EPS growth (10.6%) — sustainable.
Per-payment dividend history
Ex-date Mar 27, 2026
- Payment date
- Apr 17, 2026
- Dividend
- $0.7100
- Adj. dividend
- $0.7100
Ex-date Dec 26, 2025
- Payment date
- Jan 16, 2026
- Dividend
- $0.7100
- Adj. dividend
- $0.7100
Ex-date Sep 26, 2025
- Payment date
- Oct 17, 2025
- Dividend
- $0.7100
- Adj. dividend
- $0.7100
Ex-date Jun 27, 2025
- Payment date
- Jul 11, 2025
- Dividend
- $0.7100
- Adj. dividend
- $0.7100
Ex-date Mar 28, 2025
- Payment date
- Apr 11, 2025
- Dividend
- $0.7000
- Adj. dividend
- $0.7000
Ex-date Dec 27, 2024
- Payment date
- Jan 10, 2025
- Dividend
- $0.7000
- Adj. dividend
- $0.7000
Ex-date Sep 27, 2024
- Payment date
- Oct 11, 2024
- Dividend
- $0.7000
- Adj. dividend
- $0.7000
Ex-date Jun 28, 2024
- Payment date
- Jul 12, 2024
- Dividend
- $0.7000
- Adj. dividend
- $0.7000
Ex-date Mar 21, 2024
- Payment date
- Apr 12, 2024
- Dividend
- $0.6900
- Adj. dividend
- $0.6900
Ex-date Dec 19, 2023
- Payment date
- Jan 12, 2024
- Dividend
- $0.6900
- Adj. dividend
- $0.6900
Ex-date Sep 21, 2023
- Payment date
- Oct 13, 2023
- Dividend
- $0.6900
- Adj. dividend
- $0.6900
Ex-date Jun 22, 2023
- Payment date
- Jul 14, 2023
- Dividend
- $0.6900
- Adj. dividend
- $0.6900
| Ex-Date | Payment Date | Dividend | Adj. Dividend |
|---|---|---|---|
| Mar 27, 2026 | Apr 17, 2026 | $0.7100 | $0.7100 |
| Dec 26, 2025 | Jan 16, 2026 | $0.7100 | $0.7100 |
| Sep 26, 2025 | Oct 17, 2025 | $0.7100 | $0.7100 |
| Jun 27, 2025 | Jul 11, 2025 | $0.7100 | $0.7100 |
| Mar 28, 2025 | Apr 11, 2025 | $0.7000 | $0.7000 |
| Dec 27, 2024 | Jan 10, 2025 | $0.7000 | $0.7000 |
| Sep 27, 2024 | Oct 11, 2024 | $0.7000 | $0.7000 |
| Jun 28, 2024 | Jul 12, 2024 | $0.7000 | $0.7000 |
| Mar 21, 2024 | Apr 12, 2024 | $0.6900 | $0.6900 |
| Dec 19, 2023 | Jan 12, 2024 | $0.6900 | $0.6900 |
| Sep 21, 2023 | Oct 13, 2023 | $0.6900 | $0.6900 |
| Jun 22, 2023 | Jul 14, 2023 | $0.6900 | $0.6900 |
Historical Dividend Yield
Dividend Growth
Dividend Increase Track Record
Medtronic has raised its total annual dividend (split-adjusted, by ex-dividend calendar year) versus the prior year for 13 consecutive years — the same figure as the "Consecutive Growth Years" card above.
| Year | Previous DPS | New DPS | Change |
|---|---|---|---|
| 2026 | $2.8300 | — | — |
| 2025 | $2.7900 | $2.8300 | +1.4% |
| 2024 | $2.7500 | $2.7900 | +1.5% |
| 2023 | $2.6700 | $2.7500 | +3.0% |
| 2022 | $2.4700 | $2.6700 | +8.1% |
| 2021 | $2.2800 | $2.4700 | +8.3% |
| 2020 | $2.1200 | $2.2800 | +7.5% |
| 2019 | $1.9600 | $2.1200 | +8.2% |
| 2018 | $1.8100 | $1.9600 | +8.3% |
| 2017 | $1.6700 | $1.8100 | +8.4% |
| 2016 | $1.4450 | $1.6700 | +15.6% |
| 2015 | $1.1950 | $1.4450 | +20.9% |
| 2014 | $1.1000 | $1.1950 | +8.6% |
| 2013 | $1.2650 | $1.1000 | -13.0% |
| 2012 | $0.9350 | $1.2650 | +35.3% |
| 2011 | $0.8600 | $0.9350 | +8.7% |
| 2010 | $0.5980 | $0.8600 | +43.8% |
| 2009 | $0.8135 | $0.5980 | -26.5% |
| 2008 | $0.4700 | $0.8135 | +73.1% |
| 2007 | $0.4125 | $0.4700 | +13.9% |
| 2006 | $0.3600 | $0.4125 | +14.6% |
| 2005 | $0.2400 | $0.3600 | +50.0% |
| 2004 | $0.2810 | $0.2400 | -14.6% |
| 2003 | $0.3025 | $0.2810 | -7.1% |
| 2002 | $0.2150 | $0.3025 | +40.7% |
| 2001 | $0.1803 | $0.2150 | +19.2% |
| 2000 | $0.1450 | $0.1803 | +24.4% |
| 1999 | $0.1200 | $0.1450 | +20.8% |
| 1998 | $0.1025 | $0.1200 | +17.1% |
| 1997 | $0.0800 | $0.1025 | +28.1% |
| 1996 | $0.0452 | $0.0800 | +76.8% |
| 1995 | $0.0596 | $0.0452 | -24.0% |
| 1994 | $0.0388 | $0.0596 | +53.7% |
| 1993 | $0.0325 | $0.0388 | +19.2% |
| 1992 | $0.0286 | $0.0325 | +13.7% |
| 1991 | $0.0238 | $0.0286 | +20.4% |
| 1990 | $0.0203 | $0.0238 | +16.9% |
| 1989 | $0.0175 | $0.0203 | +16.1% |
| 1988 | $0.2733 | $0.0175 | -93.6% |
| 1987 | $0.0131 | $0.2733 | +1982.4% |
| 1986 | $0.0122 | $0.0131 | +7.7% |
| 1985 | $0.0116 | $0.0122 | +5.4% |
| 1984 | $0.0106 | $0.0116 | +8.8% |
| 1983 | $0.0094 | $0.0106 | +13.3% |
| 1982 | — | $0.0094 | — |
DPS sums split-adjusted amounts (adj. dividend) by ex-dividend calendar year—the same basis as the Adj. Dividend column in Dividend Payment History. The Dividend column can differ after stock splits. This table uses four decimals per annual total so the Change column matches the shown amounts; each payment row in Dividend Payment History also uses four.
Cash dividends paid (USD) — TTM and history
Trailing-twelve-month and annual common dividends paid for Medtronic (MDT) from the consolidated cash flow statement, in USD as filed.
Latest period
$3.63B
YoY change
-2.1%
5Y CAGR
+4.4%
Peak year (2024)
$3.67B
Latest annual
$3.59B
Cash dividends paid over time for Medtronic (MDT)
Per-period cash dividends paid
Cash dividends paid annual + quarterly history for Medtronic (MDT)
| Fiscal year | Period ended | Reported | Dividends Paid | YoY | YoY change |
|---|---|---|---|---|---|
| 2025 | $3.59B | -2.1% | -$77.00M | ||
| 2024 | $3.67B | +1.4% | +$50.00M | ||
| 2023 | $3.62B | +6.9% | +$233.00M | ||
| 2022 | $3.38B | +8.4% | +$263.00M | ||
| 2021 | $3.12B | +7.8% | +$226.00M | ||
| 2020 | $2.89B | +7.5% | +$201.00M | ||
| 2019 | $2.69B | +8.0% | +$199.00M | ||
| 2018 | $2.49B | +5.0% | +$118.00M | ||
| 2017 | $2.38B | +11.1% | +$237.00M | ||
| 2016 | $2.14B | +60.0% | +$802.00M | ||
| 2015 | $1.34B | +19.8% | +$221.00M | ||
| 2014 | $1.12B | +5.8% | +$61.00M | ||
| 2013 | $1.05B | +3.3% | +$34.00M | ||
| 2012 | $1.02B | +5.4% | +$52.00M | ||
| 2011 | $969.00M | +6.8% | +$62.00M | ||
| 2010 | $907.00M | +7.6% | +$64.00M | ||
| 2009 | $843.00M | +49.2% | +$278.00M | ||
| 2008 | $565.00M | +12.1% | +$61.00M | ||
| 2007 | $504.00M | +8.4% | +$39.20M | ||
| 2006 | $464.80M | +14.8% | +$59.90M | ||
| 2005 | $404.90M | +15.2% | +$53.40M | ||
| 2004 | $351.50M | +15.5% | +$47.30M | ||
| 2003 | $304.20M | +9.1% | +$25.40M | ||
| 2002 | $278.80M | +15.8% | +$38.10M | ||
| 2001 | $240.70M | +27.0% | +$51.20M | ||
| 2000 | $189.50M | +43.7% | +$57.60M | ||
| 1999 | $131.90M | +28.2% | +$29.00M | ||
| 1998 | $102.90M | +13.5% | +$12.20M | ||
| 1997 | $90.70M | +50.2% | +$30.30M | ||
| 1996 | $60.40M | +28.0% | +$13.20M | ||
| 1995 | $47.20M | +21.0% | +$8.20M | ||
| 1994 | $39.00M | +17.1% | +$5.70M | ||
| 1993 | $33.30M | +13.7% | +$4.00M | ||
| 1992 | $29.30M | +23.1% | +$5.50M | ||
| 1991 | $23.80M | +25.9% | +$4.90M | ||
| 1990 | $18.90M | — | — |
Medtronic (MDT) most recent annual dividends paid stands at $3.59B (2025) – edged down 2.1% year-over-year.
Looking at the 2020–2025 (5 years) stretch, Medtronic dividends paid compounded at +4.4% per year, with the latest reading among the more recent periods of the dataset.
Between 2024 and 2025, Medtronic dividends paid edged down 2.1%, falling from $3.67B to $3.59B.
The highest annual dividends paid of $3.67B was reported in 2024. The lowest in the available history was $18.90M in 1990.
Within Healthcare, Medtronic (MDT) ranks 9th among 8 peers we track. The peer median for dividends paid is $8.05B.
Medtronic Dividends Paid 2025: $3.59B
Medtronic dividends paid in 2025 was $3.59B, edged down 2.1% below 2024.
Medtronic Dividends Paid 2024: $3.67B
Medtronic dividends paid in 2024 was $3.67B, edged up 1.4% from 2023. This figure represents the highest annual value in the available history.
Medtronic Dividends Paid 2023: $3.62B
Medtronic dividends paid in 2023 was $3.62B, grew 6.9% from 2022.
Medtronic Dividends Paid 2022: $3.38B
Medtronic dividends paid in 2022 was $3.38B, grew 8.4% from 2021.
Medtronic Dividends Paid 2021: $3.12B
Medtronic dividends paid in 2021 was $3.12B.
See more financial history for Medtronic (MDT).
Sector peers by dividends paid
Companies in the same sector as Medtronic, ranked by their latest dividends paid.
| Company | Dividends Paid | Sector |
|---|---|---|
| Novo Nordisk (NVO) | $51.76B | Healthcare |
| Johnson & Johnson (JNJ) | $12.38B | Healthcare |
| AbbVie (ABBV) | $11.66B | Healthcare |
| Merck & Co. (MRK) | $8.18B | Healthcare |
| UnitedHealth Group (UNH) | $7.92B | Healthcare |
| Eli Lilly (LLY) | $5.38B | Healthcare |
| Amgen (AMGN) | $5.12B | Healthcare |
| AstraZeneca (AZN) | $5.08B | Healthcare |
Frequently asked questions
Does Medtronic pay dividends?
Yes, Medtronic (MDT) pays quarterly dividends of approximately $2.84 per share annually, yielding 3.63%.
What is Medtronic's dividend yield?
Medtronic (MDT) has a current dividend yield of 3.63%.
Is Medtronic's dividend safe?
Medtronic (MDT) passes 7 out of 8 dividend safety checks. See the detailed breakdown above for each criterion.
How many consecutive years has Medtronic increased its dividend?
Medtronic (MDT) has 13 consecutive years of dividend increases.
What is Medtronic's dividend payout ratio?
Medtronic (MDT) has a dividend payout ratio of 79.1%. Trailing twelve months (GAAP): adjusted dividends over roughly 12 months aligned with the latest reported quarter, divided by the sum of diluted EPS from the last four fiscal quarters (not NII or taxable income for BDCs/REITs).
What is Medtronic's dividends paid?
Latest reported dividends paid for Medtronic (MDT) is $3.63B (period ending January 23, 2026).
How has Medtronic dividends paid changed year-over-year?
Medtronic (MDT) dividends paid changed -2.1% year-over-year on the latest annual filing.
What is the long-term growth rate of Medtronic dividends paid?
Medtronic (MDT) dividends paid compound annual growth rate is +4.4% over the most recent 5 years available.
When did Medtronic dividends paid hit its highest annual value?
Medtronic dividends paid reached its highest annual value of $3.67B in 2024.
What was Medtronic dividends paid in 2024?
Medtronic (MDT) dividends paid in 2024 was $3.67B.
What was Medtronic dividends paid in 2025?
Medtronic (MDT) dividends paid in 2025 was $3.59B.
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