SANTA CLARA, Calif. ( TheStreet) -- Clearly, Intel (INTC) is not encountering the same economic woes that Cisco (CSCO) has talked about. The chipmaker has announced plans to raise its quarterly dividend by 15% to 18 cents, citing strong demand for its products.
Intel's shares climbed 29 cents, or 1.37%, to $21.50 in pre-market trading as investors reacted to the dividend raise.
"Intel remains on track to have our best year ever and we continue to generate strong cash flows," said Intel CEO Paul Otellini in a statement released before market open. "Our ongoing operational performance and confidence in our business going forward provide the ability to return more cash to shareholders."
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