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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Medtronic PLC | NYSE:MDT | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.58 | 0.72% | 81.50 | 81.92 | 81.01 | 81.07 | 4,986,496 | 01:00:00 |
From May 2019 to May 2024
By Maria Armental
Medtronic PLC will book a $500 million charge in its second quarter tied to an internal restructuring following its $50 billion acquisition of Covidien PLC in January.
The restructuring, which largely resulted in a change to Medtronic's U.S. income taxes, frees up about $9.8 billion in cash and other investments to meet its financial targets, including cutting its debt-to-Ebitda ratio by the end of fiscal year 2018 while returning at least half of its free cash flow to investors through dividends and stock buybacks.
As part of the Covidien deal, Medtronic changed its headquarters from Minneapolis to Dublin, lowering its over all tax burden.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 28, 2015 17:54 ET (21:54 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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