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Texas Instruments Cranks Dividend Higher

By Eric Volkman - Apr 17, 2013 at 6:41PM

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The tech firm increases its payout by one-third.

Texas Instruments (TXN 1.97%) has made good on its ambition to increase its quarterly payout. The company's board approved a proposal to lift the dividend to $0.28 per share, payable on May 20 to shareholders of record as of April 30. The new amount represents an increase of 33% over the previous $0.21, which was paid in each of the preceding two quarters. Prior to that, the firm handed out $0.17 per share.

Texas Instruments habitually pays a dividend. Since 2000, that distribution has risen steadily from $0.0213 per share to the current level.

The new dividend annualizes to $1.12 per share. That yields 3.3% at Texas Instruments' most recent closing stock price of $34.21.

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