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Intel Plans to Increase Dividend 12.75%; Shares Gain
Published:
Monday, 16 Nov 2009 | 9:35 AM ET
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By: Reuters
Intel said it has approved a 12.75 percent increase in its quarterly dividend beginning in the first quarter of 2010.
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Paul Sakuma / AP Intel's headquarters in Santa Clara, California. |
The move will push the dividend to 15.75 cents a share for the Santa Clara, Calif., chipmaking leader.
The increase translates to a 63 cents per share gain on an annualized basis.
Shares of Intel [INTC
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()
] gained more than 2 percent following the news.
The increase marks the first time Intel has increased its dividend since the second quarter of 2008. The company said in a statement that the decisions comes amid industry growth and is "another sign of our confidence in business prospects going forward."
Copyright 2009 Reuters. Click for restrictions.
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