Covidien plc (COV) Announces Dividend Increase of 16%
9/21/2012 9:48:47 AM
DUBLIN--(BUSINESS WIRE)--Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a 16% increase in the quarterly dividend rate, from $0.225 per ordinary share to $0.26 per ordinary share. “This increase reflects our good performance to date in 2012, our commitment to enhance shareholder value and the Board’s confidence in our future growth prospects,” said José (Joe) E. Almeida, Chairman, President and CEO. “Both the Board and our senior management team are confident that our expected cash flow generation over the next several years will support future dividend increases and a higher dividend payout ratio.