MINNEAPOLIS--(BUSINESS WIRE)--June 22, 2006--The board of directors of Medtronic, Inc. (NYSE:MDT - News), today approved a cash dividend of $0.11 per share of the company’s common stock, an increase of 14.3 percent over each of the previous four quarterly dividends. This dividend is consistent with Medtronic’s history of paying out approximately 20 percent of prior year earnings in the form of cash dividends. Medtronic has paid a dividend since the beginning of fiscal 1978 and has increased its dividend each year.
