Intel Lifts Dividend By 7.1% In 3rd Hike In 18 Months |
| Wall Street Journal - May 7, 2012 |
Intel Corp.'s (INTC) board approved a 7.1% quarterly dividend increase, boosting the chip maker's payout to shareholders for the third time in less than two years as it continues to post record financial results.
The Santa Clara, Calif., company will now pay shareholders 22.5 cents a share a quarter, up from the 21 cents previously paid. The increase, going into effect in the third quarter, will cost Intel roughly an additional $78 million a quarter and puts the annual yield at about 3.2%.
"This latest dividend increase is one more example of our commitment to return cash to our stockholders as we continue to generate strong cash flow fueled by the global growth of computing," Chief Executive Paul Otellini said.
Intel shares recently slipped 21 cents to $27.69. The stock has gained 19% over the past 12 months, outperforming the Philadelphia Sox Semiconductor Index and the S&P 500.
The dividend increase comes as Intel benefits from strong demand for its server chips and as consumers in emerging markets continue purchasing PCs. The company, whose processors run 80% of the world's PCs and most of its servers, posted record financial results last year. Otellini on Monday said the company should again post record revenue in 2012.
Read Full Article from Wall Street Journal
- Posted: 2012-05-07 10:56:17
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