Qualcomm (NASDAQ:QCOM) is phoning in some encouraging news for its shareholders. The company has lifted its quarterly dividend to $0.35 per share of its common stock. This will be distributed on June 26 to shareholders of record as of June 5. The new amount is a hefty 40% above the previous level of $0.25, which had most recently been handed out last month. Prior to that, the firm paid $0.215 per share.

Qualcomm is a habitual dividend payer. It tends to increase its payout roughly once every year.

The new dividend annualizes to $1.40 per share. That yields 2.1% at the company's current stock price of $65.96.

Fool contributor Eric Volkman has no position in Qualcomm. The Motley Fool owns shares of Qualcomm. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.