Medtronic plc
MDT25 yrs growthHealthcare · Medical Devices · Stock · quarterly payer
Forward Yield
3.02%
Annual Dividend
$2.88
Payout Ratio
70%
5-Yr Growth
4.4%
Ex-Date
Sep 25, 2026
Frequency
Quarterly
Key facts about MDT's dividend
Data as of · Source: SmarterDividends data
- As of Oct 24, 2026, Medtronic plc (MDT) has a forward dividend yield of 3.02%, based on an annual dividend of $2.88 per share and a share price of $95.41.
- As of Oct 24, 2026, MDT's dividend safety grade from SmarterDividends is A (90 out of 100), which rates the dividend as very safe.
- By SmarterDividends' count, Medtronic plc (MDT) has raised its dividend for 25 consecutive years as of Oct 24, 2026, which makes it a Dividend Aristocrat by the 25-year definition.
- MDT last cut its regular dividend in 2000.
- MDT's most recent ex-dividend date was Sep 25, 2026, for a dividend of $0.72 per share.
- As of Oct 24, 2026, MDT pays out 70% of its trailing 12-month earnings as dividends (its payout ratio).
- MDT's dividend has grown at an average rate of 4.4% a year over the past five years.
- As of Oct 24, 2026, SmarterDividends' blended fair-value estimate for MDT is $86.12 per share, 10% below the $95.41 share price, so MDT screens as fairly valued.
- Medtronic plc (MDT) pays its dividend quarterly, 4 times a year.
- Medtronic plc (MDT) has raised its regular dividend 46 times and cut it 2 times across the 180 payments on record since 1982. Its most recent change was a 1.4% increase to $0.720 per share, going ex-dividend on Jun 26, 2026. The last cut went ex-dividend on Mar 30, 2005.
- Medtronic (MDT) has declared its first higher dividend of the year in May in 5 of the last 5 years; its most recent raise, 1.4%, was declared on Jun 3, 2026.
Cite this page
SmarterDividends, "MDT Dividend: Yield, Safety Grade & Next Ex-Date," updated Oct 24, 2026, https://smarterdividends.com/stocks/MDT
Summary
As of Oct 24, 2026, Medtronic plc (MDT) yields 3.02% ($2.88 a year per share), has a dividend safety grade of A (90/100) and has 25 consecutive years of dividend increases on record.
Is MDT a good dividend stock?
YesMedtronic plc (MDT) pays a quarterly dividend yielding 3.02% ($2.88/yr), with 25 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Advantages
- Dividend Aristocrat — 25 consecutive years of growth
- Top-tier dividend safety score
Risks
- Cut its dividend in 2000
- Share price is down over the past 5 years
Key Data
- Dividend Yield
- 3.02%
- Payout Ratio
- 70%
- Annual Dividend
- $2.88
- 5-Yr Avg Growth
- 4.4%
- Ex-Dividend Date
- Sep 25, 2026
- Years of Growth
- 25
- Frequency
- quarterly
- Beta
- 0.57
- Market Cap
- $122.0B
- P/E Ratio
- 23.4
- 5-Yr Total Return
- -11%
- 52-Week Range
- $73.31 – $106.33
- Dividend Safety
- A · 90/100
- Ever Cut?
- Yes (2000)
MDT dividend raises and cuts
Medtronic plc (MDT) has raised its regular dividend 46 times and cut it 2 times across the 180 payments on record since 1982. Its most recent change was a 1.4% increase to $0.720 per share, going ex-dividend on Jun 26, 2026. The last cut went ex-dividend on Mar 30, 2005.
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jun 26, 2026 | Raise | $0.710 → $0.720 | +1.4% |
| Jun 27, 2025 | Raise | $0.700 → $0.710 | +1.4% |
| Jun 28, 2024 | Raise | $0.690 → $0.700 | +1.4% |
| Jun 22, 2023 | Raise | $0.680 → $0.690 | +1.5% |
| Jun 23, 2022 | Raise | $0.630 → $0.680 | +7.9% |
| Jun 24, 2021 | Raise | $0.580 → $0.630 | +8.6% |
| Jun 25, 2020 | Raise | $0.540 → $0.580 | +7.4% |
| Jul 5, 2019 | Raise | $0.500 → $0.540 | +8.0% |
| Jul 5, 2018 | Raise | $0.460 → $0.500 | +8.7% |
| Jul 5, 2017 | Raise | $0.430 → $0.460 | +7.0% |
| Jul 6, 2016 | Raise | $0.380 → $0.430 | +13.2% |
| Jun 25, 2015 | Raise | $0.305 → $0.380 | +24.6% |
Show all 48 changes since 1982
| Ex-date | Change | Old → new | Move |
|---|---|---|---|
| Jul 1, 2014 | Raise | $0.280 → $0.305 | +8.9% |
| Jul 2, 2013 | Raise | $0.260 → $0.280 | +7.7% |
| Jul 3, 2012 | Raise | $0.243 → $0.260 | +7.0% |
| Jul 6, 2011 | Raise | $0.225 → $0.243 | +8.0% |
| Jul 7, 2010 | Raise | $0.205 → $0.225 | +9.8% |
| Jul 8, 2009 | Raise | $0.188 → $0.205 | +9.0% |
| Jul 1, 2008 | Raise | $0.125 → $0.188 | +50.4% |
| Jul 3, 2007 | Raise | $0.110 → $0.125 | +13.6% |
| Jul 5, 2006 | Raise | $0.0960 → $0.110 | +14.6% |
| Jun 29, 2005 | Raise | $0.0840 → $0.0960 | +14.3% |
| Mar 30, 2005 | Cut | $0.0850 → $0.0840 | −1.2% |
| Jun 30, 2004 | Raise | $0.0730 → $0.0850 | +16.4% |
| Jul 1, 2003 | Raise | $0.0630 → $0.0730 | +15.9% |
| Apr 2, 2003 | Raise | $0.0580 → $0.0630 | +8.6% |
| Dec 31, 2002 | Cut | $0.0630 → $0.0580 | −7.9% |
| Jul 2, 2002 | Raise | $0.0580 → $0.0630 | +8.6% |
| Jul 3, 2001 | Raise | $0.0500 → $0.0580 | +16.0% |
| Jul 5, 2000 | Raise | $0.0400 → $0.0500 | +25.0% |
| Jun 30, 1999 | Raise | $0.0325 → $0.0400 | +23.1% |
| Jun 30, 1998 | Raise | $0.0275 → $0.0325 | +18.2% |
| Jul 1, 1997 | Raise | $0.0238 → $0.0275 | +15.8% |
| Jul 2, 1996 | Raise | $0.0163 → $0.0238 | +46.2% |
| Jul 5, 1995 | Raise | $0.0128 → $0.0163 | +27.5% |
| Jul 1, 1994 | Raise | $0.0106 → $0.0128 | +20.6% |
| Jul 2, 1993 | Raise | $0.0088 → $0.0106 | +21.4% |
| Jul 9, 1992 | Raise | $0.0075 → $0.0088 | +16.7% |
| Oct 4, 1991 | Raise | $0.0064 → $0.0075 | +17.1% |
| Jul 3, 1990 | Raise | $0.0055 → $0.0064 | +17.1% |
| Jul 3, 1989 | Raise | $0.0047 → $0.0055 | +16.7% |
| Jul 5, 1988 | Raise | $0.0041 → $0.0047 | +15.4% |
| Jul 6, 1987 | Raise | $0.0034 → $0.0041 | +18.2% |
| Jul 3, 1986 | Raise | $0.0031 → $0.0034 | +10.0% |
| Jul 3, 1985 | Raise | $0.0030 → $0.0031 | +5.3% |
| Jul 9, 1984 | Raise | $0.0028 → $0.0030 | +5.5% |
| Jul 1, 1983 | Raise | $0.0025 → $0.0028 | +12.5% |
| Jul 2, 1982 | Raise | $0.0022 → $0.0025 | +14.3% |
Frequently Asked Questions
Is MDT a good dividend stock?
Yes. Medtronic plc (MDT) pays a quarterly dividend yielding 3.02% ($2.88/yr), with 25 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding.
Is MDT undervalued?
Based on a blend of discounted cash flow, a dividend-discount model and an earnings-multiple estimate, MDT's fair value is about $86.12 versus a $95.41 share price — so it looks fairly valued (-10% vs. fair value).
Is MDT's dividend safe?
MDT has a dividend-safety grade of A (90/100), based on its payout coverage, free-cash-flow, 25-year growth streak, a dividend cut in 2000, debt and yield-versus-history.
What is MDT's fair value?
Our blended fair-value estimate for MDT is about $86.12 per share, about 10% below the current $95.41 price — combining a discounted cash flow, a dividend-discount model and an earnings multiple.
Is MDT a buy, hold, or sell?
We don't issue formal ratings, but on the data MDT screens as "yes" and fairly valued. Medtronic plc (MDT) pays a quarterly dividend yielding 3.02% ($2.88/yr), with 25 years of growth and a dividend-safety grade of A. It scores well across payout coverage, growth history and safety — a dependable income holding. This is research for your own analysis, not investment advice.
Will MDT cut its dividend?
MDT earns a dividend-safety grade of A (90/100), and has cut its dividend before (last in 2000). A higher score means lower cut risk based on payout coverage, cash flow and history — but no score guarantees a dividend.
Does MDT pay a dividend?
Yes. Medtronic plc pays a quarterly dividend of about $2.88 per share annually, a forward yield of roughly 3.02%.
What is MDT's dividend yield?
As of Oct 24, 2026, MDT's forward dividend yield is 3.02%, based on a $2.88 annual dividend and a $95.41 share price.
What is MDT's dividend per share?
As of Oct 24, 2026, MDT pays $2.88 per share per year, distributed on a quarterly basis.
What is MDT's dividend payout ratio?
As of Oct 24, 2026, MDT's payout ratio is 70% of trailing 12-month earnings — a moderate level that's generally sustainable.
How many years has MDT grown its dividend?
As of Oct 24, 2026, MDT has increased its dividend for 25 consecutive years.
When is the next MDT ex-dividend date?
As of Oct 24, 2026, MDT's next ex-dividend date hasn't been announced. The most recent was Sep 25, 2026, for $0.72 per share.
MDT Price — Last 12 Months
Daily close
Price Return
1 Year
-9%
3 Years
+20%
5 Years
-11%
52-Week Range
$73.31 – $106.33
Price change over each period (excludes dividends). Past performance doesn't guarantee future results.
What is MDT worth?
Fairly valuedhigh confidenceOur blended fair-value estimate for Medtronic plc is $86.12 per share, versus a market price of $95.41. That implies the stock is roughly fairly priced.
Fair Value
$86.12
Current Price
$95.41
Gap
-10%
Margin of Safety
-11%
How we get there
Discounted cash flow
Discounts projected free cash flow back to today.
Dividend discount
Discounts the future dividend stream back to today.
Earnings multiple (Graham)
Graham's earnings-multiple formula, anchored to bond yields.
At today's price, the market is pricing in about 8.8% annual free-cash-flow growth. We model 8.1% — so the price already assumes faster growth than we think is likely.
Assumptions: 8.0% discount rate (CAPM), 8.1% growth for five years fading to 2.5% over the next five, $4.07 EPS, $2.88 annual dividend. Updated weekly.
Fair-value estimates are model output for educational purposes only — not investment advice or a price target.
MDT Dividend Safety Score
Very Safe
SmarterDividends' proprietary score, backtested against which dividends were actually cut over 15+ years (0.78 AUC). It blends a validated cut-risk model (growth streak, cut history) with current payout, cash-flow and debt. Higher is safer · not investment advice.
Dividend Growth
Total dividends per share by year
Dividend History
Full MDT dividend history →| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| Sep 25, 2026 | Oct 16, 2026 | $0.7200 | regular |
| Jun 26, 2026 | Jul 17, 2026 | $0.7200 | regular |
| Mar 27, 2026 | Apr 17, 2026 | $0.7100 | regular |
| Dec 26, 2025 | Jan 16, 2026 | $0.7100 | regular |
| Sep 26, 2025 | Oct 17, 2025 | $0.7100 | regular |
| Jun 27, 2025 | Jul 11, 2025 | $0.7100 | regular |
| Mar 28, 2025 | Apr 11, 2025 | $0.7000 | regular |
| Dec 27, 2024 | Jan 10, 2025 | $0.7000 | regular |
| Sep 27, 2024 | Oct 11, 2024 | $0.7000 | regular |
| Jun 28, 2024 | Jul 12, 2024 | $0.7000 | regular |
| Mar 21, 2024 | Apr 12, 2024 | $0.6900 | regular |
| Dec 19, 2023 | Jan 12, 2024 | $0.6900 | regular |
| Sep 21, 2023 | Oct 13, 2023 | $0.6900 | regular |
| Jun 22, 2023 | Jul 14, 2023 | $0.6900 | regular |
Income Calculator
At $2.88 / yr per share
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