Last year when Intel (INTC) announced a 15% dividend hike and declared a quarterly payout of $0.18 per share, I raised the question: How does a raise of 14.28571% round up to 15%? Well, today Intel solved the problem, revising its previously-declared dividend up to $0.1812 per share.
The new quarterly payout represents a 15.05% improvement over Intel’s previous four dividends of $0.1575 per share, and carries an ex-dividend date of February 2.
Intel also announced the authorization of an additional $10 billion in share repurchases, which isn’t such a bad thing considering how undervalued the stock is.
Shares of INTC have traded as high as $21.23 (+1.97%) in the opening minutes of today’s session, where they now carry a 3.41% dividend yield.