InterDigital Boosts Dividend 50%

By Tomi KilgoreMarketsMarketWatch Pulse

InterDigital Inc. said Thursday it will raise its quarterly dividend by 50% to 30 cents a share from 20 cents a share. The mobile technology company's new dividend will be payable Oct. 26 to shareholders of record on Oct. 12. Based on Wednesday's stock closing price of $77.73, the new annual dividend implies a dividend yield of 1.54%, compared with the aggregate S&P 500 dividend yield of 2.12%, according to FactSet. "InterDigital's continuing growth and strong visibility of future cash flows puts us in a great position to return increased value to shareholders," said Chairman S. Douglas Hutcheson. The stock, which was still inactive in premarket trade, had soared 59% year to date, while the S&P 500 has gained 5.8%.

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