Covidien (NYSE: COV ) is keeping its dividend level for the moment. The company has declared a quarterly common stock distribution of $0.26 per share, to be paid on August 15 to shareholders of record as of July 30. That amount matches each of the firm's previous three payouts; the most recent of which was paid in early May. Prior to that, Covidien disbursed $0.225 per share.
Since November 2010, the company has lifted its dividend after every four quarters. Its distribution has grown from $0.16 per share to the present level.
The just-declared dividend annualizes to $1.04 per share. That yields 1.7% at Covidien's most recent closing stock price of $60.46.