Altera Raises Dividend 50%

Chip designer has made quarterly payout every year since 2007.

By Rich Duprey – Jun 3, 2013 at 12:41PM EST

Chip designer Altera (NASDAQ: ALTR) announced this morning its third-quarter dividend of $0.15 per share, a 50% increase to the $0.10-per-share payout it made last quarter.

The board of directors said the quarterly dividend is payable on Sept. 3 to the holders of record at the close of business on Aug. 12. Altera has paid a dividend every year since 2007.

Altera CFO Ron Pasek said: "Today's announcement reflects Altera's strong cash flow generating capacity and our commitment to return a portion of that cash to our shareholders. Our intent remains to increase the dividend over time as part of our efforts to provide an ongoing and predictable return of capital to our shareholders."

The regular dividend payment equates to a $0.60-per-share annual dividend, yielding 1.8% based on the closing price of Altera's stock on May 31.

ALTR Dividend data by YCharts.

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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time. Having made the streets safe for Truth, Justice, and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. His coverage reflects his passion for motorcycles, booze, and guns (though not enjoyed all at the same time...usually), but his writing also covers the broader sectors of consumer goods, technology, and industrials. So follow along as he tries to break down complex topics to make them more understandable and useful to the average investor. Have a story idea? Contact Rich here. I may not be able to respond to every suggestion, but I do read them all! Does an article needs a correction? Reach Rich here.

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Altera Raises Dividend 50%

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