Le Lézard
Classified in: Science and technology, Business
Subject: DIV

TI to return more cash to shareholders with 24% dividend increase and authorization for additional $12 billion in share repurchases


DALLAS, Sept. 20, 2018 /PRNewswire/ -- Texas Instruments Incorporated (TI) (NASDAQ: TXN) today said it will raise its quarterly cash dividend by 24 percent, from $0.62 per share to $0.77, or $3.08 annualized. The higher dividend will be payable November 19, 2018, to stockholders of record on October 31, 2018, 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 $12 billion of its common stock over time. This is in addition to approximately $7.4 billion of previously authorized repurchases that remained at the end of June 2018. 

Dividend increases and share repurchases are integral pieces of TI's capital management strategy, reflecting 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 2018, TI has paid 41 percent of its free cash flow in dividends. Today's announcement marks 15 consecutive years of dividend increases. As of second quarter 2018, the company has reduced its outstanding shares by 43 percent through its consistent share repurchases since the end of 2004.

Notice regarding forward-looking statements

This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe TI's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in 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:

For a more detailed discussion of these factors, see the Risk Factors discussion in Item 1A of TI's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances.

About Texas Instruments

Texas Instruments Incorporated (TI) is a global semiconductor design and manufacturing company that develops analog ICs and embedded processors. By employing the world's brightest minds, TI creates innovations that shape the future of technology. TI is helping approximately 100,000 customers transform the future, today. Learn more at www.ti.com.

TXN-G

 

SOURCE Texas Instruments Incorporated


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