Altera Raises Dividend 50%
Jun 3rd 2013 12:43PM
Updated Jun 3rd 2013 2:00PM
Chip designer Altera announced this morning its third-quarter dividend of $0.15 per share, a 50% increase to the $0.10-per-share payout it made last quarter.
The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 12. Altera has paid a dividend every year since 2007.
Altera CFO Ron Pasek said: "Today's announcement reflects Altera's strong cash flow generating capacity and our commitment to return a portion of that cash to our shareholders. Our intent remains to increase the dividend over time as part of our efforts to provide an ongoing and predictable return of capital to our shareholders."
The regular dividend payment equates to a $0.60-per-share annual dividend, yielding 1.8% based on the closing price of Altera's stock on May 31.
The article Altera Raises Dividend 50% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.