Qualcomm Ups Dividend, Approves Up To $4B Buyback
March 6, 2012 6:36PM (UTC)
SAN DIEGO (AP) — Mobile phone chip-maker Qualcomm Inc. says it's raising its quarterly dividend by 16 percent to 25 cents and has approved up to $4 billion in stock buybacks.
Qualcomm says the moves allow it to return cash to its shareholders without slowing its growth.
The $4 billion stock buyback program replaces the company's previous $3 billion repurchase plans, which had $948 million left.
The San Diego company says it will pay the higher dividend after March 23. Its quarterly dividend had been 21.5 cents.
In premarket trading Tuesday, Qualcomm shares are up 20 cents to $62.31.
COMPLETELY AD FREE,
FOR THE NEXT HOUR
Read Now, Pay Later - no upfront
registration for 1-Hour Access
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address
A rare vision of black American life
Sean Spicer and lessons of "Succession"
Yes, it's time to impeach: But why?
"Stranger Things" is not an '80s parable
Queer Eye for a purity culture survivor
Trump's mental state is an "emergency"
Trump reopens "longline" fishing