Qualcomm Increases Dividend And Share Buyback Program (QCOM)
Qualcomm (NASDAQ: QCOM) announced that it will be boosting its dividend by 12% after the closing bell today. The annualized dividend payout will now be $0.76. The company will also be enacting a new $3 billion share buyback program. This program will replace a $2 billion program that was put into place earlier.
"The strength of our business model is enabling significant investments in our strategic business initiatives while returning capital to stockholders," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm. "Since commencing this program in 2003, we have returned $12.6 billion to our stockholders through a combination of dividends and stock repurchases."
During the regular trading session, QCOM shares lost over 3%. In the after hours, however, the stock has caught a bid after this announcement. QCOM has moved 2.50% higher to $36.45.
