Reuters: Technology News: Qualcomm ups dividend, increases share repurchase

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Qualcomm ups dividend, increases share repurchase Mar 5th 2013, 13:02 Tweet Share this Email Print Related News Home Depot boosted by early signs of U.S. housing recovery Tue, Feb 26 2013 DirecTV's $4 billion buyback helps counter Venezuela concerns Thu, Feb 14 2013 Time Warner beats profit forecasts, raises dividend Wed, Feb 6 2013 CORRECTED-UPDATE 2-Time Warner's profit beats Street, raises dividend Wed, Feb 6 2013 Related Topics Investing and Taxes Simplified » Tech » People sit next a Qualcomm stand at the Mobile World Congress at Barcelona, February 27, 2013. Credit: Reuters/Albert Gea Tue Mar 5, 2013 8:02am EST (Reuters) - Qualcomm Inc, the world's leading supplier of chips for cellphones, said it was raising its quarterly cash dividend by 40 percent and introduced a new $5 billion stock repurchase program, sending its shares higher in premarket trading. The quarterly dividend will increase to 35 cents per share from 25 cents. The $5 billion stock repurchase program, which has no expiration date, replaces a $4 billion buyback program. About $2.5 billion of "repurchase authority" had been remaining on the previous buyback program. Shares rose $1.62 or 2.4 percent on the news to $68.25 per share in premarket trading. The news comes as San Diego-based Qualcomm is benefiting from strong demand for smartphones and a move by network operators around the world to a high-speed wireless technology known as long term evolution (LTE), where Qualcomm is ahead of rivals. On January 30, Qualcomm raised its financial targets for this year and also announced the retirement of its chief financial officer. (Reporting By Liana B. Baker; Editing by Gerald E. McCormick) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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