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TI to Increase Dividend by 24%

Returns more cash to shareholders, authorizes additional $6.0 billion in share repurchases.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Texas Instruments said it will raise its quarterly cash dividend by 24%, from $0.50 per share to $0.62, or $2.48 annualized. The higher dividend will be payable Nov. 13, 2017, to stockholders of record on Oct. 31, 2017, contingent upon formal declaration by the board of directors at its regular meeting in October.   
 
The board of directors also authorized the company to repurchase an additional $6.0 billion of its common stock over time. This is in addition to approximately $4.6 billion of previously authorized repurchases that remained at the end of June 2017. 
 
Dividend increases and share repurchases are both part of TI’s capital management strategy and reflect the company’s strong free cash flow generation and commitment to return excess cash to shareholders. With today’s announcement, the company has increased dividends each of the past 14 years, and through consistent share repurchases has reduced outstanding shares by 42% since the end of 2004. Over the last 12 months, TI paid 47% of free cash flow in dividends.

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