Analog Devices Increases Cash Dividend to $0.34 from $0.30 Per Share
Analog Devices (NASDAQ: ADI) today announced that its Board of Directors has approved a 13 percent increase in its regular quarterly dividend to $0.34 per outstanding share of common stock.
“At ADI, dividends are an important vehicle to raise returns to our shareholders. Our continuing strong operating performance and cash flow have facilitated a solid record of increasing dividends over the past ten years,” said Jerald G. Fishman, CEO.
Since the first dividend was paid in December 2003, ADI has paid a cash dividend to shareholders every quarter. The Company has increased its dividend ten times, and has paid a total of $2.05 billion in dividends to shareholders over that period.
The increase is effective with the dividend payable on March 12, 2013 to shareholders of record as of the close of business on March 1, 2013. The payment of any future quarterly dividends will be at the discretion of the Board and will be dependent upon ADI's financial position, results of operations, outlook, liquidity, and other factors deemed relevant by the Board.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.