Texas Instruments has made good on its ambition to increase its quarterly payout. The company's board approved a proposal to lift the dividend to $0.28 per share, payable on May 20 to shareholders of record as of April 30. The new amount represents an increase of 33% over the previous $0.21, which was paid in each of the preceding two quarters. Prior to that, the firm handed out $0.17 per share.
Texas Instruments habitually pays a dividend. Since 2000, that distribution has risen steadily from $0.0213 per share to the current level.
The new dividend annualizes to $1.12 per share. That yields 3.3% at Texas Instruments' most recent closing stock price of $34.21.
The article Texas Instruments Cranks Dividend Higher originally appeared on Fool.com.
Fool contributor Eric Volkman has no position in Texas Instruments, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.