Avago Tech Raises Dividend

Avago Tech Raises Dividend

Avago Technologies investors are to receive, as usual, more in dividends than in the previous quarter. The firm has declared its latest regular distribution, which is to be $0.23 per share, paid on September 30 to shareholders of record as of September 19. That amount is $0.02, or nearly 10%, higher than the preceding payout of $0.21 dispensed at the end of June. That, in turn, was $0.02 higher than the dividend prior to that, which was $0.19, paid in April.

Since launching its quarterly payout in December 2010, the firm has raised its distribution in every subsequent quarter. It has climbed from an initial rate of $0.07 per share to the current level.

The new dividend annualizes to $0.92 per share. That yields 2.4% at Avago's most recent closing stock price of $38.79.

The article Avago Tech Raises Dividend originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in Avago Technologies. Nor 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.

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