DALLAS, Sept. 19, 2013 /PRNewswire/ -- Texas Instruments Incorporated (TI) (NASDAQ: TXN) today said it will increase its quarterly cash dividend by 7 percent, from $0.28 per share to $0.30, or $1.20 annualized. The higher dividend will be payable November 18, 2013, to stockholders of record on October 31, 2013, contingent upon formal declaration by the Board of Directors at its regular meeting in October.
This latest dividend increase – the second in 2013 – is an outgrowth of TI's capital management strategy. TI's business model, with its focus on analog and embedded processing semiconductors, allows the company to consistently generate cash and to return cash to shareholders through a combination of dividends and share repurchases. In total, TI has raised its quarterly dividend 43 percent in 2013.
TI has a proven track record of returning cash to its shareholders. Over the past 10 years, the company has increased the dividend every year, and its share repurchases have reduced its outstanding share count by 36 percent at an average price per share of less than $30.
Safe Harbor Statement"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: 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, including statements about the ability of the company to generate cash and return cash to shareholders, 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.