On Tuesday morning, QUALCOMM (QCOM ) announced that it has raised its quarterly dividend and has approved a $15 billion share repurchase program.
Qualcomm announced that its Board of Directors has approved an increase to its capital return program for shareholders.
A $15 billion share buy back program has been approved, in which company plans to buy back $10 billion worth of shares in the next 12 months. There is currently $2.1 billion remaining from QCOM’s previous repurchase authorization.
The company has also boosted its dividend 14% from 42 cents to 48 cents quarterly, or $1.92 annually. This dividend increase will be effective in the company’s June payout.
Qualcomm has been raising its dividend annually since 2003.
The Bottom Line
Shares of QCOM were up $1.35, or 1.86% during premarket trading Tuesday. The stock is down 2.18% YTD.
QUALCOMM (QCOM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.