TI Repurchase Additional $7.5 billion Shares' Increase Dividend 8% (TXT)

The board of directors of Texas Instruments Incorporated

today authorized the company to repurchase an additional $7.5 billion of its common stock. This is in addition to the $1.3 billion in repurchase authorizations remaining at the end of June 2010. TI plans to repurchase shares at times and prices considered appropriate by the company. Including today's announcement, the board has authorized the repurchase of $27.5 billion of stock since September 2004. The company has reduced the number of its shares outstanding by 533 million shares, or 31 percent, from September 2004 through June 2010. Additionally, the company plans to raise its quarterly cash dividend $0.01 per common share. TI's new quarterly dividend will be $0.13 per share of common stock, resulting in annual dividend payments of $0.52 per common share. The new quarterly cash dividend will be payable November 22, 2010, to stockholders of record on November 1, 2010, contingent upon formal declaration by the board of directors at its regular meeting in October.