Shares of chip maker Texas Instruments (TXN) are up 55 cents, or 1.7%, at $33.03 after the company this afternoon said it is raising its quarterly dividend by a third, to 28 cents per share per quarter from 21 cents, effective with the May 20th payment to shareholders of record as of April 30th.
The company also said its board of directors authorized $5 billion in addition buyback authorization, for a total outstanding of $8.4 billion.
At the new rate, the annual payout of $1.12 per share would equate to a 3.3% current yield.
TI said it plans to host a conference call tomorrow morning, at 11 am, Eastern time, to discuss its capital allocation policy.
No comments:
Post a Comment