The board of directors of healthcare technology company Medtronic plc (NYSE:MDT) authorised a dividend of USD0.63 per share of the company's ordinary stock for the Q3 fiscal year 2022, it disclosed on Friday.

In addition, the new cash dividend is up by 9% over the prior year and is consistent with the announcement made by the company in May 2021. It has increased its annual dividend payment for the past 44 consecutive years.

This upsized cash dividend will be paid on 14 January 2022 to shareholders of record at the close of business as of 22 December 2021.

Headquartered in Dublin, Ireland, Medtronic's technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems and more.