Qualcomm announced Wednesday its board of directors has approved a 10% increase in the San Diego-based wireless company’s quarterly cash dividend.
The dividend will increase from 68 cents to 75 cents per share of common stock and will be effective for quarterly dividends payable after March 24.
The increase raises the annualized dividend payout to $3 per share of common stock.
“We are pleased to announce an increase in our quarterly dividend. Given our long-term earnings growth … we remain committed to returning capital to stockholders,” said Cristiano Amon, president and CEO.
Amon said Qualcomm is committed to increasing its dividend in the range of “high-single-digit to low-double-digit growth” annually.
Qualcomm is the world’s leading wireless technology innovator and the driving force behind the worldwide expansion of 5G.