FRIDLEY (dpa-AFX) - While reporting financial results for the fourth quarter on Thursday, medical devices maker Medtronic plc. (MDT) initiated its adjusted earnings and revenue growth guidance for the full year 2022. The company also raised dividend 9 percent.
For fiscal 2022, the company now projects adjusted earnings in a range of $5.60 to $5.75 per share. This includes an estimated 10 to 15 cent positive impact from foreign currency based on current exchange rates. The company also expects annual revenue gro
On average, 29 analysts polled by Thomson Reuters expect the company to report earnings of $5.72 per share on revenue growth of 8.5 percent to $32.54 billion for the year. Analysts' estimates typically exclude special items.
The company also announced that its board of directors approved a 9 percent increase in cash dividend for the first quarter of fiscal year 2022 to $0.63 per ordinary share, payable on July 16, 2021, to shareholders of record at the close of business on June 25, 2021.
The company said it remains committed to returning a minimum of 50 percent of its free cash flow to shareholders, primarily through dividends, and to a lesser extent, share repurchases.
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