DALLAS, Sept. 21, 2017 /PRNewswire/ -- Texas Instruments Incorporated (TI) (NASDAQ: TXN) today said it will raise its quarterly cash dividend by 24 percent, from $0.50 per share to $0.62, or $2.48 annualized. The higher dividend will be payable November 13, 2017, to stockholders of record on October 31, 2017, contingent upon formal declaration by the board of directors at its regular meeting in October.

The board of directors also authorized the company to repurchase an additional $6.0 billion of its common stock over time. This is in addition to approximately $4.6 billion of previously authorized repurchases that remained at the end of June 2017.

Dividend increases and share repurchases are both part of TI's capital management strategy and reflect the company's strong free cash flow generation and commitment to return excess cash to shareholders. With today's announcement, the company has increased dividends each of the past 14 years, and through consistent share repurchases has reduced outstanding shares by 42 percent since the end of 2004. Over the last 12 months, TI paid 47 percent of free cash flow in dividends.

Notice regarding forward-looking statements

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe TI's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or our management:


    --  Market demand for semiconductors, particularly in TI's end markets;
    --  TI's ability to compete in products and prices in an intensely
        competitive industry;
    --  Customer demand that differs from forecasts and the financial impact of
        inadequate or excess TI inventory that results from demand that differs
        from projections;
    --  TI's ability to develop, manufacture and market innovative products in a
        rapidly changing technological environment;
    --  Economic, social and political conditions in the countries in which TI,
        our customers or our suppliers operate, including security risks; global
        trade policies; political and social instability; health conditions;
        possible disruptions in transportation, communications and information
        technology networks; and fluctuations in foreign currency exchange
        rates;
    --  Natural events such as severe weather, geological events or health
        epidemics in the locations in which TI, our customers or our suppliers
        operate;
    --  Breaches or disruptions of TI's information technology systems or those
        of our customers or suppliers;
    --  Timely implementation of new manufacturing technologies and installation
        of manufacturing equipment, or the ability to obtain needed third-party
        foundry and assembly/test subcontract services;
    --  Availability and cost of raw materials, utilities, manufacturing
        equipment, third-party manufacturing services and manufacturing
        technology;
    --  Compliance with or changes in the complex laws, rules and regulations to
        which TI is or may become subject, or actions of enforcement
        authorities, that restrict TI's ability to manufacture or ship our
        products or operate our business, or subject TI to fines, penalties, or
        other legal liability;
    --  Product liability or warranty claims, claims based on epidemic or
        delivery failure, or other claims relating to TI products,
        manufacturing, services, design or communications, or recalls by TI
        customers for a product containing a TI part;
    --  Changes in the tax rate applicable to TI as the result of changes in tax
        law, the jurisdictions in which profits are determined to be earned and
        taxed, adverse resolution of tax audits, increases in tariff rates, and
        the ability to realize deferred tax assets;
    --  A loss suffered by a customer or distributor of TI with respect to
        TI-consigned inventory;
    --  Financial difficulties of distributors or their promotion of competing
        product lines to TI's detriment, or the loss of a significant number of
        distributors;
    --  Losses or curtailments of purchases from key customers or the timing and
        amount of distributor and other customer inventory adjustments;
    --  TI's ability to maintain or improve profit margins, including our
        ability to utilize our manufacturing facilities at sufficient levels to
        cover our fixed operating costs, in an intensely competitive and
        cyclical industry;
    --  TI's ability to maintain and enforce a strong intellectual property
        portfolio and maintain freedom of operation; or TI's exposure to
        infringement claims;
    --  Instability in the global credit and financial markets that affects TI's
        ability to fund our daily operations, invest in the business, make
        strategic acquisitions, or make principal and interest payments on our
        debt;
    --  Increases in health care and pension benefit costs;
    --  TI's ability to recruit and retain skilled engineering, management and
        technical personnel;
    --  TI's ability to successfully integrate and realize opportunities for
        growth from acquisitions, or our ability to realize our expectations
        regarding the amount and timing of restructuring charges and associated
        cost savings; and
    --  Impairments of TI's non-financial assets.

For a more detailed discussion of these factors, see the Risk Factors discussion in Item 1A of TI's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances.

About Texas Instruments

Texas Instruments Incorporated (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors. By employing the world's brightest minds, TI creates innovations that shape the future of technology. TI is helping approximately 100,000 customers transform the future, today. Learn more at www.ti.com.

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SOURCE Texas Instruments Incorporated