Texas Instruments Incorporated (TXN) will raise its quarterly dividend by 31.6 percent to $0.50 per share in 2016. This marks the company's 13th consecutive year of annual dividend increases. TXN also hiked its dividend by double digits in each of the last 5 years.

The increased dividend will be payable November 21, 2016, to shareholders of record on November 7, 2016. TXN now has an estimated dividend yield of 2.8% based on today’s $71.71 closing price.

Texas Instruments Incorporated (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors. The Company's Analog segment's product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA). The Company's Embedded Processing segment's product line includes Processor, Microcontrollers and Connectivity.