Intel Corporation (NASDAQ: INTC) has joined the brigade of Dow Jones Industrial Average to raise its dividend. The semiconductor giant approved a 7 percent increase in its quarterly cash dividend to 22.5 cents per share per quarter. The rate of 90 cents per share on an annual basis generates a 3.22% dividend yield based upon the closing price of $27.90. The impressive news is that Intel said this was the third dividend increase in the past 18 months, and its dividend has increased every year over the past decade.
Here is a big figure that goes back rather far: Taken together since their inception, Intel’s dividends and stock buyback program have returned approximately $112 billion to stockholders.
While there is not any new guidance from its earnings report last month, Intel is maintaining the stance that 2012 is expected to be “another year of record revenues for Intel.” The core business, its progress in smartphones, and other new growth areas drove ability to raise its payout.
Intel shares are up marginally at $27.94 and its 52-week range is $19.16 to $29.27.
JON C. OGG