We don't talk much about Molex (NASDAQ:MOLX) (NASDAQ:MOLXA) here at the Fool, but chances are, you're using some of the company's products right now. Customers such as IBM (NYSE:IBM), Sony (NYSE:SNE), Motorola (NYSE:MOT), and others use the firm's electronic components in everything from the computer that serves you your webpage to the fridge that keeps your beer cool, your car that squashes flying insects, and the cell phone you use for one-handed, freeway-driving thrills.

Today, the connection manufacturer hooked up shareholders with a couple of rewards: a 50% dividend boost and a reauthorization for up to $100 million in share repurchases. The dividend will pay on all classes of the firm's stock and will amount to $0.15 per year.

The move follows a strong showing for the fourth fiscal quarter and full year. Last week, the firm reported a $155.8 million revenue increase, or about 33% (28% without foreign exchange benefits), to $631.8 million, with earnings coming in at $0.30 per share, much better than a charge-deflated $0.01 per share from the prior-year quarter.

For the full year, sales climbed 22%, and earnings rose 110%. The company ended the period with nearly $340 million in cash and marketable securities, while carrying only $14 million in long-term obligations. That looks like a decent position, and it is, especially considering the jittery reception the firm got from investors just a few years back.

And though we applaud payouts here at the Fool -- and we even have a dedicated, full-time dividend hunter -- Molex's shareholder largesse is a mere trickle, coming to a 0.5% yield. The firm's valuation also looks a bit disconnected from reality. It's priced at more than 50 times last year's free cash flow and more than 30 times earnings.

True, management foresees an earnings increase around 40% for next year, but with heavy capital expenditures putting a squeeze on free cash flow and competition from the likes of Amphenol (NYSE:APH), Tyco International (NYSE:TYC), Methode Electronics (NASDAQ:METH), and scores of smaller firms, further appreciation is no sure thing for Molex investors.

Looking for companies that pay out but also promise some capital increases? See what Mathew Emmert digs up in his monthly Motley Fool Income Investor .

Fool contributor Seth Jayson has no position in any firm mentioned. View his Fool profile here.