Altera Boosts Dividend

July 20, 2011   |  Written by: admin

Altera announced yesterday that the company will boost their quarterly dividend by 33 percent to $.08 per share.

This year’s 33 percent dividend hike follows a 20 percent dividend increase from Altera last year. Since announcing that dividend increase, ALTR shares have gained nearly 54 percent.

Following yesterday’s dividend increase, Altera stock will offer a current yield of 0.7 percent based on yesterday’s closing price.

The dividend increase comes as Altera reported second quarter sales growth of 17 percent. Earnings per share also came in a penny ahead of Wall Street’s expectations.

“This quarter marks a return to sequential growth following the mild correction we experienced in the first quarter. We expect more sales gains in the third quarter,” said John Daane, president, chief executive officer, and chairman of the board.

The Altera dividend will be payable on September 1, 2011 to shareholders of record as of August 10, 2011.

• Altera Raises Dividend As Cash Flow Increases
• Cummins Dividend Yield Climbs Higher
• General Mills Raises Dividend Again
• Medtronic Raises Dividend for 34th Consecutive Year
• Eaton Raises Dividend By 16%