Monday, March 24, 2008
Intel Corp. said its board of directors has approved a 10 percent hike in the company's quarterly dividends payment, boosting payout to investors even as the company continued to pour money into a share buyback program.
The world's No. 1 semiconductor supplier by revenue said it will pay 14 cents per share on June 1 to shareholders, raising the quarterly payment from the 12.75 cents a share paid March 1.
"The strength of Intel's competitive position combined with our solid financial allow us to again reward Intel shareholders with an increase in the quarterly dividend," said Craig Barrett, Intel chairman in a statement.
"Intel's dividend yield remains one of the highest in the technology industry and has returned nearly $12 billion to shareholders since 1992," Barrett said.
The company reported it had $12.8 billion in cash and short-term investments at the end of the fourth quarter, up 18.5 percent from $10.8 billion at the end of the third quarter of 2007.
Intel said it generated more than $12 billion in cash from operations during 2007 and paid out $2.6 billion in dividends during the year. It also spent $2.75 repurchasing 111 million of its common stock.
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