Chip designer Texas Instruments (NASDAQ: TXN ) announced today its third-quarter dividend of $0.30 per share, a 7% increase from the payout made to investors last quarter of $0.28 per share. This is the second dividend increase this year and amounts to a 43% total hike in the payout to investors in 2013.
Over the past 10 years, the chip designer has increased the dividend every year, and its share repurchases have reduced its outstanding share count by 36% at an average price per share of less than $30.
The board of directors said the quarterly dividend is payable on November 18 to holders of record at the close of business on October 31. The regular dividend payment equates to a $1.20-per-share annual dividend, yielding 2.9% based on the closing price today of Texas Instruments' stock.