Texas Instruments Incorporated (TXN) will raise its quarterly dividend by 16.9 percent to $0.90 per share in 2019. This follows a 24.2 percent dividend hike by the semiconductor company in 2018 and marks the 9th consecutive year of double digit dividend hikes.
The next dividend will be payable November 18, 2019, to stockholders of record on October 31, 2019. A new annual dividend rate of $3.60 per share yields 2.8% at a stock price of $127.
In its press release TXN states: "This dividend increase is an integral piece of TI's capital management strategy and reflects the company's continued strength in free cash flow generation and its commitment to return excess cash to stockholders. In the 12-month period ending June 2019, TI has paid 47% of its free cash flow in dividends.
TI has a proven track record of returning cash to its shareholders. Today's announcement marks 16 consecutive years of dividend increases. In addition, as of second quarter 2019, the company has reduced its outstanding shares by 46% through its consistent share repurchases since the end of 2004."
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.