Qualcomm (QCOM) will raise its quarterly dividend by 4.8 percent to $0.65 per share in 2020. This marks the 17th consecutive year of dividend increases by the technology company.
The next dividend is payable on March 26, 2020, to stockholders of record at the close of business on March 5, 2020. A new annual dividend rate of $2.60 per share yields 3.5% at a stock price of $74.62.
In the company's press release announcing this increase Steve Mollenkopf, CEO of Qualcomm Incorporated, said, "We are pleased to announce an increase in our quarterly dividend, reflecting our continued commitment to returning capital to stockholders."
Qualcomm Incorporated manufactures digital wireless communications equipment. Qualcomm’s products principally consist of integrated circuits (chips/chipsets) and system software used in mobile devices and in wireless networks. Qualcomm's technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices and other connected devices. Trademarks of Qualcomm Incorporated are Qualcomm, Snapdragon, MSM, Hexagon, Adreno and Wireless Reach. The company was incorporated in California in 1985 and reincorporated in Delaware in 1991.