Intel Up Over 2% On Dividend Hike (INTC)

Intel Corporation

shares are up over 2% today, after the Silicon Valley-based chipmaker announced it would be boosting its dividend by 16%, the second raise in six months. The company is boosting its quarterly payout to 21 cents per share. “Intel's current and projected growth is generating strong cash flow, allowing us to further increase our dividend,” Chief Executive Officer Paul Otellini said in today's statement. At last check, shares of Intel were up 51 cents to $23.54, a gain of 2.2% on 31 million shares so far.