Medtronic PLC's board approved a dividend of 54 cents per ordinary share for the third quarter of the fiscal year 2020.

The dividend is 8% higher than the prior-year period and is payable Jan. 17, 2020, to shareholders of record as of Dec. 27.

Dublin-based Medtronic sells device-based medical treatments focused on cardiovascular disease, regenerative therapies and diabetes to hospitals and physicians.