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.
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