Micrel Board Increases Quarterly Dividend by 14.3% to $0.04; Authorizes $30M Share Repurchase Plan
Micrel, Incorporated (Nasdaq: MCRL) announced today that its Board of Directors has authorized an approximately 14.3 percent increase in the Company's quarterly dividend on its common stock. The new quarterly dividend rate of $0.04 per common share will be effective for the next dividend that is expected to be paid in the third quarter of 2011.
Dividend payments are usually announced at the time the Company reports its quarterly financial results.
In addition, the Board of Directors has authorized the repurchase of an additional $30 million of the Company's common stock. This new authorization is in addition to the remaining approximately $6.7 million of the Board's 2010 repurchase authorization of $30 million, and brings the total available for repurchase to approximately $36.7 million.
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