TI to return more cash to shareholders with 13% dividend increase
DALLAS, Sept. 17, 2020 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) today said it will raise its quarterly cash dividend 13%, from $0.90 per share to $1.02, or $4.08 annualized. The higher dividend will be payable November 16, 2020, to stockholders of record on October 30, 2020, contingent upon formal declaration by the board of directors at its regular meeting in October.
This dividend increase is an integral piece of TI's disciplined approach to capital management and reflects the company's continued strength in free cash flow generation and its commitment to return excess cash to stockholders. In the 12-month period ending June 2020, TI has paid 56% of its free cash flow in dividends.
TI has a proven track record of returning cash to its shareholders. Today's announcement marks 17 consecutive years of dividend increases. In addition, as of second quarter 2020, the company has reduced its outstanding shares by 47% through its consistent share repurchases since the end of 2004.
Notice regarding forward-looking statements
We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or our management:
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SOURCE Texas Instruments Incorporated
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