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.
Fool contributor Eric Volkman has no position in Avago Technologies. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.