The board of Medtronic (Minneapolis) has approved a cash dividend of $0.1875 per share of the company's common stock. Medtronic has paid a dividend for 32 consecutive years and in June reported an increase of 50% in the dividend payment to shareholders, with a commitment to return 40% to 50% of free cash flow to shareholders in dividends or share repurchases.
The dividend is payable on Oct. 24 to shareholders of record at the close of business on Oct. 3.
PreMD receives AMEX notice
Predictive Medicine (PreMD; Toronto) said it has received notice from the American Stock Exchange (AMEX) that it intends to suspend trading in PreMD's stock on the exchange effective Aug. 28 and to initiate delisting proceedings.
PreMD originally received notification of the exchange's intention to delist on May 28. The company appealed the decision and a hearing was held with the listing qualifications panel on Aug. 12. The panel also considered the company's press release on Aug. 18 announcing that the FDA had upheld its previous decision regarding a "non-substantially equivalent" letter with respect to PreMD's skin cholesterol test.