* Medtronic announces 7 percent increase in cash dividend

* Increases quarterly cash dividend by 7 percent to $0.46 per share

* Medtronic Plc - board authorized expenditure of up to $5.0 billion for new share repurchases

* Medtronic Plc says authorization replaces previous 2015 repurchase authorization to redeem up to an aggregate number of ordinary shares

* Medtronic Plc - is no specific time-period associated with repurchase authorization Source text for Eikon: Further company coverage: