Intel Corporation (INTC) will increase its quarterly dividend by 15 percent, the company’s board of directors announced Friday.
Shares of Intel traded up 1.77% to $21.58 at the opening bell.
The chipmaker said it is upping its dividend as it is “on track” to have its “best year ever” and “continues to generate strong cash flow.”
“Our ongoing operational performance and confidence in our business going forward provide the ability to return more cash to shareholders,” Chief Executive Paul Otellini said in a statement released by the company.
Intel said the increase pushes its quarterly cash dividend up to 18 cents per share from 15.75 share, or 72 cents per share on an annual basis.
The company has been paying a cash dividend since 1992, and said it has already doled out $2.6 billion in dividends in the first three quarters of fiscal 2010.
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