Medtronic Guides FY24 Adj. EPS Below View: Boosts Dividend - Update

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, medical devices maker Medtronic plc. (MDT) initiated adjusted earnings guidance for the full-year 2024, below analysts' estimates.

For fiscal 2023, the company now projects adjusted earnings in a range of $5.00 to $5.10 per share on organic revenue growth of 4.0 to 4.5 percent.

On average, 30 analysts polled by Thomson Reuters expect the company to report earnings of $5.20 per share for the quarter. Analysts' estimates typically exclude special items.

The Medtronic board of directors also approved an increase in Medtronic's cash dividend for the first quarter of fiscal year 2024, raising the quarterly amount to $0.69 per ordinary share, payable on July 14, 2023, to shareholders of record at the close of business on June 23, 2023.

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