Qualcomm to Buy Back Up to $15B of Shares, Raise Dividend

Chipmaker Qualcomm Inc (NASDAQ:QCOM) said it would buy back up to $15 billion of shares and raise its quarterly dividend.

Qualcomm will buy back up to $10 billion in the next 12 months, the company said on Monday.

The new buyback plan replaces the previous program, which had $2.1 billion authorization remaining.

Qualcomm said its quarterly dividend would rise to 48 cents per share from 42 cents from March 25.

(Reporting by Lehar Maan in Bengaluru; Editing by Kirti Pandey)