Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Nasdaq  >  QUALCOMM, Inc.    QCOM

News SummaryMost relevantAll newsSector news 

QUALCOMM, Inc. : Qualcomm raises dividend, increases share repurchase

03/05/2013 | 09:23am US/Eastern

(Reuters) - Qualcomm Inc, the world's leading supplier of chips for cellphones, said it was raising its quarterly cash dividend by 40 percent and introduced a new $5 billion stock repurchase program, sending its shares higher in premarket trading.

The quarterly dividend will increase to 35 cents per share from 25 cents.

The $5 billion stock repurchase program, which has no expiration date, replaces a $4 billion buyback program. About $2.5 billion of "repurchase authority" had been remaining on the previous buyback program.

Shares rose $1.62 or 2.4 percent on the news to $68.25 per share in premarket trading.

The news comes as San Diego-based Qualcomm is benefiting from strong demand for smartphones and a move by network operators around the world to a high-speed wireless technology known as long term evolution (LTE), where Qualcomm is ahead of rivals.

On January 30, Qualcomm raised its financial targets for this year and also announced the retirement of its chief financial officer.

(Reporting By Liana B. Baker; Editing by Gerald E. McCormick)

React to this article
Latest news on QUALCOMM, INC.
10:07a MICROSOFT : Startups attract billions for 'frontier tech'
03:16a QUALCOMM : Reports New Official Qualcomm Safety Car for Season 2 of the FIA Form..
08/27 QUALCOMM : Ufone unveils Smart U5' Smartphone
08/26 QUALCOMM : to cut 15% of workforce
08/26 QUALCOMM : Agrees to Sell UK L-Band Spectrum to Vodafone and H3G; L-Band Ideal f..
08/26 QUALCOMM : sells L-Band spectrum to Vodafone UK and Three UK
08/26 INTEL : Cavendish Kinetics Raises USD36 Million in Equity Offering
08/26 QUALCOMM : Irwin and Joan Jacobs to receive Carnegie Medal for Philanthropy
08/26 VODAFONE : Qualcomm To Sell UK L-Band Spectrum To Vodafone And Hutchinson 3G UK
08/26 QUALCOMM : to sell L-Band UK spectrum to Vodafone, Hutchison
Duration : Period :
QUALCOMM, Inc. Technical Analysis Chart | QCOM | US7475251036 | 4-Traders
Income Statement Evolution
More Financials