Texas Instruments Inc., the largest maker of analog chips, raised its quarterly dividend by 24 percent to 21 cents a share.
The dividend will be payable on Nov. 19 to stockholders of record on Oct. 31, the Dallas-based company said in a statement. The chipmaker said this is the ninth consecutive year it has raised the dividend. It has paid dividends since June 1962.
It said Thursday that the increase reflects its strengthening portfolio and lower capital needs.
Texas Instruments, the biggest provider of a type of chip that runs the electronics in devices ranging from home appliances to military hardware, joins a list of companies that have unveiled plans to return cash to shareholders in recent days.
ConAgra Foods Inc. and McDonalds Corp. also raised their dividends, while CVS Caremark Corp. (CVS) announced a $6 billion share repurchase plan Wednesday.
Texas Instruments shares were little changed in extended trading, after earlier gaining less than 1 percent to $28.85 at the close in New York. The stock is down less than 1 percent so far this year.
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