TI to increase dividend 24% to $0.21
Texas Instruments Incorporated (NASDAQ: TXN) today said it will raise its quarterly cash dividend 24 percent. The new quarterly dividend will be $0.21 per share of common stock, resulting in annual dividend payments of $0.84 per common share. The current quarterly dividend is $0.17 per share.
"This dividend increase is a direct result of our strengthening portfolio and our lower capital needs," said Rich Templeton, TI chairman, president and chief executive officer. "As more of our revenue comes from Analog and Embedded Processing, our cash flow from operations continues to improve. In addition, our opportune purchases of manufacturing capacity have positioned us well for growth while also allowing our capital spending levels to drop. This means that we can return more cash to our shareholders."
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