Texas Instruments shares boosted by divi hike and share buybacks
Shares in Texas Instruments Inc (NASDAQ:TXN) jabbed higher after the bell as it emerged the chipmaker was hiking its dividend and pressing go on a US$6bn share buyback program.
The board agreed to raising the dividend to 62 cents a share from 50 cents, with the new dividend payable on November 13 – an increase of 24%.
Even more impressive was the 24% dividend raise by chipmaker Texas Instruments, continuing its double digit growth streak since 2011. $TXN
— Dividend Fund (@dividendfund) September 22, 2017
Texas Instruments’s board also added US$6bn in share repurchase authority, in addition to the US$4.6bn that remained at the end of June this year.
“Dividend increases and share repurchases are both part of TI’s capital management strategy and reflect the company’s strong free cash flow generation and commitment to return excess cash to shareholders, the group said in a statement.
“With today’s announcement, the company has increased dividends each of the past 14 years, and through consistent share repurchases has reduced outstanding shares by 42 percent since the end of 2004. Over the last 12 months, TI paid 47 percent of free cash flow in dividends.”
Shares added 1.05% to US$86.95 each.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/184440/texas-instruments-shares-boosted-by-divi-hike-and-share-buybacks-184440.html
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