Qualcomm Increases Quarterly Dividend
![Qualcomm Increases Quarterly Dividend](https://www.cryptotradingbots.net/img/5aa28e5d-3142-40e7-9b2d-ba385eaa5953/news-article-15.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Semiconductor company's stock now offers 2.07% yield
Qualcomm Inc. revealed on Tuesday its plans to raise its quarterly dividend, positioning the semiconductor company’s stock as one of the top yielders in the technology sector, surpassing the 2% mark.
The quarterly dividend will see a 6.3% increase, rising to 85 cents a share from the previous 80 cents a share. This update will take effect for dividends paid out after March 21.
Despite a 1.2% decline in morning trading following Monday's two-year closing high, Qualcomm's new annual dividend rate of $3.40 per share translates to a dividend yield of 2.07%. In comparison, the Technology Select Sector SPDR ETF XLK boasts a yield of 0.70%, with the S&P 500 index SPX at 1.41%.
Within the tech-sector ETF, Qualcomm's stock ranks as the 12th highest yielding among the 64 equity components.
"We are pleased to announce an increase in our quarterly dividend," affirmed Chief Executive Christiano Amon. "We remain committed to returning capital to stockholders through a balanced capital return policy, including a baseline of anti-dilutive stock repurchases."
During the fourth quarter, Qualcomm allocated $895 million towards dividend payments and repurchased $784 million worth of common stock. The company maintains around $4.4 billion remaining in its stock repurchase program, accounting for 2.4% of Qualcomm's market capitalization of $183.8 billion.
Over the past three months, Qualcomm's stock has surged by 25.9%, surpassing the tech-sector ETF's advancement of 12.4% and the S&P 500's growth of 11.7%.
Leave A Reply
Your email address will not be published. Required fields are marked *