Qualcomm Chips Extra Penny Into Dividend Payment

Qualcomm (QCOM: 61.94 +0.76%) announced a 6% increase in their quarterly dividend payment from $.16 per share to $.17 per share.

 

The current dividend yield now stands at 2.1%

 

Shares of the chip-maker have held up pretty well during the recent market sell-off and have only lost 8% of their value since the beginning of the year. Wall Street reacted positively to the dividend increase, pushing QCOM shares up 3% to $33.77.

 

“Despite the uncertain global economic environment, we continue to execute on our strategic objectives, driving strong operating cash flows, enabling us to return capital to stockholders through stock repurchases and dividends,” said Paul Jacobs, chief executive officer.

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