By Ben Glickman

Analog Devices on Tuesday raised its quarterly dividend by 7%, which the company said was a sign of its strong cash flow.

The Wilmington, Mass.-based semiconductor company declared a dividend of 92 cents a share, compared with a previous payout of 86 cents a share.

The new dividend, equal to $3.68 a year, represents an annual yield of 1.9% based on the Tuesday closing price of $189.40.

Analog said that the raise marked its 20th consecutive year lifting its dividend.

Chief Executive Vincent Roche said that Analog's dividend record was "a testament to ADI's enduring business qualities which have enabled positive free cash flow generation for 27 consecutive years."

The dividend is payable March 15 to shareholders of record as of the close of business March 5.

Write to Ben Glickman at

(END) Dow Jones Newswires

02-20-24 1814ET