Texas Instruments Raises Dividend 7%

Chip designer Texas Instruments  announced today its third-quarter dividend of $0.30 per share, a 7% increase from the payout made to investors last quarter of $0.28 per share. This is the second dividend increase this year and amounts to a 43% total hike in the payout to investors in 2013.

Over the past 10 years, the chip designer has increased the dividend every year, and its share repurchases have reduced its outstanding share count by 36% at an average price per share of less than $30.

The board of directors said the quarterly dividend is payable on November 18 to holders of record at the close of business on October 31. The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 2.9% based on the closing price today of Texas Instruments' stock.


TXN Dividend Chart

TXN Dividend data by YCharts. Chart does not reflect new, higher dividend payment.

The article Texas Instruments Raises Dividend 7% 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.

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