By Denny Jacob
Texas Instruments Inc. said Thursday that its board authorized the company to repurchase an additional $15 billion of its common stock over time.
The semiconductor company said the authorization is in addition to the $8.2 billion of previously authorized repurchases that remained at the end of June 2022.
The Dallas, Texas-based company also said it is raising its quarterly dividend 8% to $1.24 a share from $1.15, or $4.96 on an annualized basis. The higher dividend will be payable on Nov. 15 to stockholders of record on Oct. 31 contingent on a formal declaration from the board at its October meeting, the company said.
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(END) Dow Jones Newswires