Broadcom Limited (AVGO) will raise its quarterly dividend to $1.75 per share. The dividend is payable on December 29, 2017 to shareholders of record, as applicable, at the close of business on December 19, 2017.

“On the heels of very strong fiscal 2017 financial results, and continuing momentum into the new fiscal year, we are increasing capital returns to our shareholders and have raised our interim quarterly dividend by 72%,” said Hock Tan, President and CEO of Broadcom Limited. “We also closed the acquisition of Brocade early in the first fiscal quarter of 2018, adding to our very successful track record of highly accretive M&A.”

Broadcom Limited designs, develops and supplies semiconductor solutions. The company develops semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor, or CMOS, based devices and analog III-V based products. Original equipment manufacturers (OEMs) or their contract manufacturers, and distributors typically account for the substantial majority of the company's semiconductor sales. Broadcom Limited is the successor to Avago Technologies Limited following Avago’s acquisition of Broadcom Corporation (BRCM) on February 1, 2016.