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Intel(INTC)Company Profile: Santa Clara, Calif.-based Intel is a semiconductor chip maker which develops advanced integrated digital technology products, mainly integrated circuits, for industries such as computing and communications.
Dow Jones Industrial Average(^DJI) component said Monday it would increase its dividend by 15% to 18.12 cents per share.
The tech bellwether's higher dividend will be payable on March 1 to stockholders of record on February 7.
That will bring Intel's yield to around 3.4%.
Intel's board of directors also authorized an additional $10 billion for share repurchases, bringing the overall buyback authorization to $14.2 billion.
"In 2010, Intel achieved its best and most profitable year ever," said Intel president and CEO Paul Otellini. "Today's announcement signals confidence in our fundamental business strategies both today and looking forward, allowing us to return more cash to shareholders."
Earlier last month,
Intel topped fourth-quarter earnings expectations
and offered healthy guidance for 2011.
On Jan. 31, Intel completed a $1.4 billion acquisition of the wireless communications arm of Germany's
Infineon Technologies AG(IFX).
The deal, announced last August, will expand Intel's capabilities to move beyond the personal computer market, a market that has struggled as smaller devices like laptops,
Apple(AAPL) iPads and smartphones gained market share.
Acquiring Infineon's wireless communications unit provides Intel with the technology to produce chips with longer battery life to operate those smaller devices, particularly for chips designed around ARM architecture, a much-used low-power system commonly found in cell phones and tablet computers.