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Qualcomm raises dividend by 20%

Qualcomm Inc. (Nasdaq: QCOM) announced Tuesday that its board of directors has approved a 20 percent increase in the company's quarterly cash dividend and, effective immediately, a $5.0 billion increase in its stock repurchase authorization.

The cash dividend will increase from 35 cents to 42 cents per share of common stock and will be effective for quarterly dividends payable after March 26. This dividend increase will raise the annualized dividend payout to $1.68 per share of common stock.

The $5.0 billion increase in the stock repurchase program brings the current authorization to $7.8 billion. Prior to this increase, $2.8 billion remained available under the stock repurchase program. To date in fiscal 2014, the company has repurchased 27.6 million shares of common stock for $2.0 billion.

"Consistent with our commitment of returning capital to our stockholders, we are pleased to increase our quarterly cash dividend and stock repurchase authorization," said Dr. Paul E. Jacobs, chairman and CEO of Qualcomm, in a statement. "Our business continues to generate strong operating cash flows driven by the global adoption of our advanced technologies, including 3G and 4G, enabling us to continue to invest in our strategic growth opportunities, while also returning capital to stockholders. Since these programs began in 2003, we have returned more than $28 billion to stockholders through a combination of stock repurchases and cash dividends."

Qualcomm, which was scheduled to host its annual stockholders meeting Tuesday, said the stock repurchase program has no expiration date.

The timing of stock repurchases and the number of shares of common stock to be repurchased will depend upon prevailing market conditions and other factors.

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Qualcomm Inc.

Company Website

5775 Morehouse Dr.
San Diego, CA 92121

Qualcomm Inc. Executive(s):

Irwin Mark Jacobs

  • Founding Chairman, CEO Emeritus

Paul Jacobs

  • Executive Chairman

Tamar Elkeles

  • Vice President

Don Jones

  • Vice President

Don Rosenberg

  • General Counsel

Mark Leslie

  • Vice President, External Affairs

Steven Altman

  • Vice Chairman

Steve Mollenkopf

  • Chief Executive Officer

Derek Aberle

  • President

Navrina Singh

  • Director of Product Management

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