Intel Raising Dividend Once Again
Wed, May 11, 2:35 PM ET, by eDividendStocks.com
Intel Corporation (INTC: 23.305 +1.19%) announced today that the company is raising their quarterly dividend again this year. Beginning in the third quarter of 2011, Intel will raise their dividend by 16% to $.21 per share.
Today's announcement follows a similar dividend increase of 15% by Intel in January.
Following today's dividend increase, Intel stock will offer a current dividend yield of 3.6% based on yesterday's closing price. Intel is currently one of the 10 highest yielding stocks in the Dow Jones index.
Paul Otellini, Intel president and CEO, commented on the dividend news, “Worldwide demand for computing continues to increase at a very rapid rate, putting Intel on track for revenue growth of over 20 percent this year, delivering another record year for the company. Intel’s current and projected growth is generating strong cash flow, allowing us to further increase our dividend. We are delivering on our commitment to return cash to shareholders with annual dividend growth that’s already more than five times the S&P 500.”
Intel also announced that the technology company repurchased $4 billion worth of INTC shares in the first quarter. The company has authorization to repurchase approximately $10 billion in additional shares.
Today's dividend increase is just a cherry on top for Intel investors that have seen the stock gain 11% already in 2011.
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