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Qualcomm, Inc. Announces a 9% Dividend Increase Income Investors 2018-03-09 08:05:04 Qualcomm Inc. QCOM QCOM stock NASDAQ QCOM Qualcomm, Inc. (NASDAQ:QCOM) announces a nine-percent increase to its quarterly dividend rate. Here's the full story on QCOM stock. Dividend Stocks,News,Qualcomm Stock

Qualcomm, Inc. Announces a 9% Dividend Increase

Another Dividend Hike from QCOM Stock

In the technology world, QUALCOMM, Inc. (NASDAQ:QCOM) stock stands out due to its generous dividend policy. And now, the company is raising its payout again.

On Thursday, March 8, after the closing bell, Qualcomm, Inc. announced that its board of directors approved a quarterly cash dividend rate of $0.62 per share, representing a nine-percent increase from its previous quarterly payout of $0.57 per share. The increased dividend rate will come into effect after March 21, 2018. (Source: “Qualcomm Increases Quarterly Dividend by 9 Percent,” Qualcomm, Inc., March 8, 2018.)

At the current share price, QCOM stock offers a forward annual dividend yield of four percent, which is quite impressive given that the average S&P 500 company pays just 1.8% at the moment.

Qualcomm also has an impressive track record of dividend growth. Since 2003, the company has raised its payout every single year. (Source: “Dividend/Split History,” Qualcomm, Inc., last accessed March 8, 2018.)

“We are pleased to announce an increase in our quarterly dividend, a reflection of our commitment to returning capital to stockholders,” said Qualcomm’s Chief Executive Officer Steve Mollenkopf in a statement on Thursday. “We look forward to closing the pending acquisition of NXP and expect the strong combined cash profile of Qualcomm and NXP to further strengthen our foundation for future capital returns for our stockholders.” (Source: “Qualcomm Increases Quarterly Dividend by 9 Percent,” Qualcomm, Inc., March 8, 2018.)

Mollenkopf was referring to the company’s pending acquisition of NXP Semiconductors NV (NASDAQ:NXPI), a global semiconductor manufacturer headquartered in Eindhoven, Netherlands. Once the deal is completed, it would boost the combined company’s cash flows and generate significant cost synergies. That could lead to another dividend increase for QCOM stock.

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