MANSFIELD – Covidien Plc announced Friday that its board of directors has voted to increase the company’s quarterly dividend by 12.5 percent.
“Given our good operational performance thus far in 2009, our strong cash flow, and the further growth we expect in 2010, the Board has voted to increase the dividend,” Richard J. Meelia, Covidien’s chairman, president and CEO, said in a statement.
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The company’s dividend will rise to $0.18 per ordinary share, up from $0.18 per ordinary share, for shareholders on record as of Oct. 6.
Covidien will pay its next quarterly dividend on Nov. 6. The company’s fiscal year ends Sept. 30.
Earlier this month, Covidien surprised analysts by announcing that it expects earnings to increase 4 to 7 percent next year. An article about the company’s outlook will be published in Monday’s edition of Providence Business News.
