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Texas Instruments to Buy Shares, Boosts Dividend

Reuters
Friday, 21 Sep 2007 | 9:07 AM ET

Texas Instrumentssaid Friday its board has approved an additional $5 billion share buyback and the company plans to raise its quarterly cash dividend by 25 percent.

The leading supplier of microchips for mobile phones , which has a market capitalization of about $51 billion, said its new quarterly dividend rate will be 10 cents per share, bringing annual dividend payments to 40 cents per share.

Before the increased buyback, TI had about $3.8 billion of shares authorized to be repurchased by the board, it said.

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