On February 19, 2016 The board of directors of Medtronic plc (NYSE:MDT) reported that they have approved the fiscal year 2016 fourth quarter cash dividend of $0.38 per ordinary share, representing a 25 percent increase over the prior year (Press release, Medtronic, FEB 19, 2016, View Source;p=RssLanding&cat=news&id=2140914 [SID:1234509122]). This quarterly declaration is consistent with the dividend announcement made by the company in June 2015. Medtronic has increased its annual dividend payment for the past 38 consecutive years, and is a constituent of the S&P 500 Dividend Aristocrats index. The dividend is payable on April 15, 2016, to shareholders of record at the close of business on March 24, 2016. While a portion of the dividend may be treated for U.S. tax purposes as a return of capital, the company expects that potentially as early as next fiscal year, its dividend will be treated completely as a distribution of earnings for U.S. tax purposes. Additional information about the tax treatment of the dividend is available by clicking on the Investors link through the Medtronic website at www.medtronic.com.

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