Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has approved a 7.5 percent increase in the Company’s quarterly cash dividend. The quarterly cash dividend will increase from $0.53 to $0.57 per share of common stock and will be effective for quarterly dividends payable after March 22, 2017. This dividend increase will raise the annualized dividend payout to $2.28 per share of common stock.
Steve Mollenkopf, CEO of Qualcomm Incorporated, said, “We are pleased to announce an increase in our quarterly dividend, a reflection of our commitment to returning capital to stockholders as we continue targeted investments in our technology roadmap. We look forward to closing the pending acquisition of NXP later this calendar year and expect the strong combined cash profile of Qualcomm and NXP to further strengthen our foundation for future capital returns for our stockholders.”
Qualcomm is hosting its annual meeting of stockholders today, March 7, 2017, in San Diego, California. The meeting will be simulcast on the Company’s Investor Relations website at http://investor.qualcomm.com/events.cfm.