Texas Instruments Inc., the largest maker of analog chips, increased its quarterly dividend by 33 percent and said it added $5 billion to its stock repurchase program.
The quarterly dividend will rise to 28 cents a share from 21 cents, payable on May 20 to shareholders of record as of April 30, the Dallas-based company said Thursday in a statement.
With the addition to the stock buyback program, the company has an outstanding authorization to repurchase $8.4 billion in shares, Texas Instruments said. Today’s announcement marks the 10th straight year of dividend increases. Texas Instruments has an indicated dividend yield of 3.45 percent, according to data compiled by Bloomberg, among the highest in the semiconductor industry.
“These increases reflect the company’s ability to generate cash and management’s commitment to return it to shareholders,” Texas Instruments said in the statement.
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