Qualcomm Incorporated (NASDAQ: QCOM) is at it again…. Raising the dividend and announcing a new stock buyback. The wireless chipset maker has approved a 16 percent increase to the quarterly dividend for common stockholders. It has also approved a new $4.0 billion stock repurchase program.
The existing $3 billion program is being replaced with the new program, and there was $948 million of repurchase authority remaining under the old program (net of put options outstanding).
The cash dividend will increase from $0.215 to $0.25 per share. At a price of $62.11 per share, the new dividend yield will be 1.6% based upon an annualized dividend payout of $1.00 per share of common stock. The 52-week trading range is $45.98 to $63.81 and Qualcomm now has a market capitalization rate of over $105 billion.
Not many companies repurchase shares when their stock is as high as Qualcomm.
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