Tags: Qualcomm | dividend | share repurchase | cellphone chip

Qualcomm Boosts Dividend, Adds $5 Billion to Buyback Plan

Tuesday, 04 March 2014 08:57 AM

Qualcomm announced a 20 percent increase to its quarterly dividend and boosted its stock buyback program by $5 billion Tuesday.

The San Diego chip maker said the new dividend of 42 cents, up 7 cents, will be effective for quarterly dividends paid after March 26. The $5 billion increase in the stock buyback program brings the company's current authorization to $7.8 billion.

Qualcomm has bought back 27.6 million shares for $2 billion this fiscal year. The stock buyback program has no expiration date.

Shares of Qualcomm Inc. rose $2.12, or 3 percent, to $75.75 in premarket trading.

© Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
Qualcomm Inc, the world's biggest cellphone chip maker, raised its share repurchase authorization by $5 billion to $7.8 billion.
Qualcomm,dividend,share repurchase,cellphone chip
Tuesday, 04 March 2014 08:57 AM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved