Avago Tech Increases Dividend 10.5%

In what seems to be turning into a tradition, Avago Technologies (NASDAQ: AVGO  ) has again raised its shareholder distribution.

The company on Thursday declared a quarterly dividend of $0.21 per share, to be handed out on June 28 to shareholders of record as of June 17. That amount is $0.02, or 10.5%, higher than Avago Tech's previous distribution of $0.19 per share, which was paid in early April.

Since launching dividend payments at the end of 2010 with a $0.07-per-share distribution, the firm has incrementally raised its payout every quarter.

The new distribution annualizes to $0.84 per share. That yields 2.3% at Avago Tech's most recent closing stock price of $36.75.

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