Covidien Announces Dividend Increase of 12.5%
DUBLIN-(Business Wire)-September 25, 2009 - Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a 12.5% increase in the quarterly dividend rate, from $0.16 per ordinary share to $0.18 per ordinary share.
“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,” said Richard J. Meelia, Chairman, President and CEO.
At the new rate, the annual dividend is $0.72 per ordinary share compared to the previous rate of $0.64 per ordinary share. The next quarterly dividend is payable on November 6, 2009, to shareholders of record on October 6, 2009.
ABOUT COVIDIEN
Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2008 revenue of $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business.
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