San Diego-based Qualcomm announced Tuesday its board has approved a 7.5 percent increase in the company’s quarterly cash dividend.
The quarterly dividend will increase from $0.53 to $0.57 per share of common stock and will be effective for dividends payable after March 22. The increase will raise the annualized dividend payout to $2.28 per share of common stock.
“We are pleased to announce an increase in our quarterly dividend, a reflection of our commitment to returning capital to stockholders as we continue targeted investments in our technology roadmap,” said CEO Steve Mollenkopf. “We look forward to closing the pending acquisition of NXP later this calendar year and expect the strong combined cash profile of Qualcomm and NXP to further strengthen our foundation for future capital returns for our stockholders.”
Qualcomm is holding its annual shareholders meeting in San Diego on Tuesday.
