Qualcomm Delivers Another Buyback & Dividend Hike (QCOM)

Qualcomm Incorporated (NASDAQ: QCOM) is at it again…. Raising the dividend and announcing a new stock buyback.  The wireless chipset maker has approved a 16 percent increase to the quarterly dividend for common stockholders.  It has also approved a new $4.0 billion stock repurchase program.

The existing $3 billion program is being replaced with the new program, and there was $948 million of repurchase authority remaining under the old program (net of put options outstanding).

The cash dividend will increase from $0.215 to $0.25 per share. At a price of $62.11 per share, the new dividend yield will be 1.6% based upon an annualized dividend payout of $1.00 per share of common stock.  The 52-week trading range is $45.98 to $63.81 and Qualcomm now has a market capitalization rate of over $105 billion.

Not many companies repurchase shares when their stock is as high as Qualcomm.