Tech giant Qualcomm, Inc. (QCOM) announced on Tuesday that it will boost its dividend 40% and that its board has approved a new $5 billion share buyback plan.
Qualcomm has already declared a 25 cent per share quarterly dividend that will be paid on March 27. However, after that dividend payout, subsequent dividend payouts will be 35 cents per share. This dividend increase will make the annualized dividend payout $1.40 per share.
Furthermore, the board of QCOM announced that its new $5 billion share repurchase program will replace the prior $4 billion program; this prior share buyback program had $2.5 billion of repurchase authority remaining.
There is no expiration date for this new share buyback plan. The timing of buybacks and the number of shares to be bought will be determined by market conditions and other factors.
Qualcomm shares were up $1.49, or +2.24%, during Tuesday morning trading. The stock is up about +10% over the past year.
The Bottom Line
Shares of Qualcomm, Inc. (QCOM) have a dividend yield of 2.06% based on Tuesday’s intraday trading price of $67.81 and the company’s updated annualized dividend payout of $1.40 per share.
Qualcomm, Inc. (QCOM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here