Medtronic's board of directors approved a cash dividend of $0.305 per ordinary share.
Here are five key notes on the dividend:
1. The dividend is conditioned on the Irish Court administrative approval, which Medtronic expects to receive by early March 2015.
2. The dividend is payable on April 17 to shareholders of record at the close of business on March 30.
3. This quarterly dividend is 9 percent more than the previous year.
4. Medtronic committed to returning 50 percent of its free cash flow to shareholders through dividend and share repurchase options.
5. Medtronic expects all or a portion of the distribution could be treated as a return of capital to U.S. shareholders for U.S. tax purposes.