Texas Instruments Announces 33% Increase to Dividend Payout, $5 Billion in Share Buybacks (TXN)
Late on Thursday, semiconductor manufacturer Texas Instruments Incorporated (TXN) announced that it will raise its quarterly dividend payout as well as add an additional $5 billion in share buybacks to its current authorization.
The Dallas-based company is raising its quarterly dividend payout to 28 cents per share, up 33% from the previous payout of 21 cents per share. This dividend will be paid on May 20 with an ex-dividend date of April 26. This is the tenth consecutive year of dividend increases by the company.
Also, TXN announced that it authorized the repurchase of $5 billion of its common stock; this brings the outstanding share buyback authroization to $8.4 billion.
For more on share buyback plans, check out Dividends vs. Share Buybacks: It’s a No Brainer
Texas Instruments shares were up 82 cents, or +2.52%, during pre-market trading on Friday.
The Bottom Line
Shares of Texas Instruments (TXN) have a dividend yield of 3.45% based on last night’s closing price of $32.48 and the company’s updated annualized dividend payout of $1.12 per share.
Texas Instruments Incorporated (TXN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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