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Covidien Declares Quarterly Cash Dividend and Announces Results from 2011 Annual General Meeting

^{Published on 2011-03-15 13:10:48 - Market Wire}
 

DUBLIN--([ BUSINESS WIRE ])--Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per ordinary share. The dividend is payable on May 6, 2011, to shareholders of record on April 7, 2011.

Covidien also announced the results from todaya™s Annual General Meeting. Five proposals were on the meeting agenda:

• Election of Directors
• Appointment of Independent Auditors
• Authorization of a one-for-one hundred reverse split followed by a one hundred-for-one forward split of the Companya™s ordinary shares
• An advisory vote relating to the Companya™s executive compensation, and
• An advisory vote relating to the frequency of future shareholder advisory votes relating to the Companya™s executive compensation.

At the meeting, shareholders elected all 11 nominees, each of whom currently serves on Covidiena™s Board of Directors. They are: Craig Arnold, Robert H. Brust, John M. Connors, Jr., Christopher J. Coughlin, Timothy M. Donahue, Kathy J. Herbert, Randall J. Hogan, III, Richard J. Meelia, Dennis H. Reilley, Tadataka Yamada, and Joseph A. Zaccagnino.

Shareholders also approved the appointment of Deloitte & Touche LLP to serve as the Companya™s independent auditors and authorized the Company to effect a one-for-one hundred reverse split followed by a one hundred-for-one forward split of the Companya™s ordinary shares, which will occur on March 18, 2011.

In addition, shareholders approved, in an advisory vote, the Companya™s executive compensation and also recommended that future shareholder advisory votes on executive compensation be held annually.

ABOUT COVIDIEN

Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in three segments: Medical Devices, Pharmaceuticals and Medical Supplies. With 2010 revenue of $10.4 billion, Covidien has approximately 42,000 employees worldwide in more than 60 countries, and its products are sold in over 140 countries. Please visit [ www.covidien.com ] to learn more about our business.