Intel Boosts Its Quarterly Dividend by 7.1%

Intel announced Monday that its board of directors has approved a 7.1 percent increase in its quarterly dividend.

The world's largest chipmaker boosted its quarterly cash dividend to 22.5 cents per share, or 90 cents per share on an annual basis, from 21 cents a share, beginning in the third quarter.

It was Intel's third dividend increase in the past 18 months — the company has consistently increased its dividend every year for the past decade.

"2012 is expected to be another year of record revenues for Intel, with strong demand in our core business and significant progress in smartphones and other new growth areas," Paul Otellini, Intel president and CEO, said in a statement. "This latest dividend increase is one more example of our commitment to return cash to our stockholders as we continue to generate strong cash flow fueled by the global growth of computing."