Maxim Integrated Products (MXIM) will raise its quarterly dividend by another 9.5 percent to 46 cents quarterly. Earlier this year the company already hiked its dividend by 6 cents to $0.42 per share quarterly.

The next cash dividend of $0.46 per share will be paid on September 13, 2018, to stockholders of record on August 30, 2018. The new annual dividend of $1.84 per share yields 3.0% at a stock price of $60.94.

Tunc Doluca, President and Chief Executive Officer, commented, "We are pleased with our June quarter results. Our power management franchise in Automotive and Industrial is producing sustainable and profitable growth." Mr. Doluca continued, "This execution against our strategy is resulting in strong and predictable cash flows, which support our industry-leading dividend and stock repurchase plans. Today, we are announcing a 10% increase in our dividend, reflecting our continued commitment to return cash to shareholders and confidence in our long-term outlook."

Maxim Integrated Products, Inc. develops innovative analog and mixed-signal products and technologies to make systems smaller and smarter, with enhanced security and increased energy efficiency. The company's products are used by customers in the automotive, industrial, healthcare, mobile consumer, and cloud data center markets. Maxim Integrated Products has paid a dividend every year since 2002.