Wednesday, September 15, 2010

TI to Repurchase Stock, Increase Dividend

Texas Instruments plans to repurchase an additional $7.5 billion of its common stock, in addition to the $1.3 billion in repurchase authorizations remaining at the end of June 2010. Additionally, the company plans to raise its quarterly cash dividend $0.01 per common share. TI's new quarterly dividend will be $0.13 per share of common stock, resulting in annual dividend payments of $0.52 per common share.

TI noted that its Board has authorized the repurchase of $27.5 billion of stock since September 2004. The company has reduced the number of its shares outstanding by 533 million shares, or 31 percent, from September 2004 through June 2010.

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