Texas Instruments (NYSE:TXN) said Thursday its raising its quarterly cash dividend 31%, to 17 cents a share, up from 13 cents a share.
The new annual dividend will be 68 cents a share.
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The Dallas-based semiconductor maker said the increase reflects the strategic shift of TI's product portfolio to a greater percentage of analog and embedded processing technologies, which generate high returns on investment and strong cash flow.
In a press release, the companys CEO Rich Templeton said, This dividend increase reflects the strength of our strategy, our confidence in our future, and our commitment to shareholders.
The new dividend will be payable Nov. 21, to stockholders of record on Oct. 31.