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Qualcomm lifts dividend from $0.35 to $0.42 per share

Staff writer ▼ | March 6, 2014
Qualcomm said its board of directors has approved a 20 percent increase in the company's quarterly cash dividend and, effective immediately, a $5 billion increase in its stock repurchase authorization.
Qualcomm
QualcommQualcomm said its board of directors has approved a 20 percent increase in the company's quarterly cash dividend and, effective immediately, a $5 billion increase in its stock repurchase authorization.


The cash dividend will increase from $0.35 to $0.42 per share of common stock and will be effective for quarterly dividends payable after March 26, 2014. This dividend increase will raise the annualized dividend payout to $1.68 per share of common stock. The $5.0 billion increase in the stock repurchase program brings the current authorization to $7.8 billion.

Prior to this increase, $2.8 billion remained available under the stock repurchase program. To date in fiscal 2014, the Company has repurchased 27.6 million shares of common stock for $2 billion.

"Consistent with our commitment of returning capital to our stockholders, we are pleased to increase our quarterly cash dividend and stock repurchase authorization," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm Incorporated.


 

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