SAN DIEGO-Surrounded by a rough-and-tumble economy, Qualcomm Inc. seems to inhabit an island of bliss as its board of directors has approved a 40-percent increase in quarterly dividend payable Sept. 26 to stockholders of record.
The company will raise the dividend from $0.05 to $0.07 per common share.
“As a result of our very strong cash position and recent change in the U.S. tax law making the distribution of dividends more efficient, we are pleased to increase the cash payout to shareholders,” said Irwin Jacobs, chairman and chief executive officer of Qualcomm. “Our business continues to generate excellent positive cash flows at the same time revenues and earnings continue to grow.”
