Dividend Hikes: National Semiconductor

National Semiconductor announces a 25% increase to its quarterly dividend.
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(Walgreen dividend increase added, share prices brought current in this update.)

BOSTON (

TheStreet

) --

National Semiconductor

(NSM)

announced a 25% increase to its quarterly dividend, news that boosted the stock during Wednesday's session.

National Semiconductor

declared a cash dividend of 10 cents per share, up from its prior quarterly dividend of 8 cents per share. The increase pushes National Semiconductor's annualized dividend yield to 2.71% from 2.17%. The new dividend will be paid on Oct. 12 to shareholders of record at the close of business on Sept. 20.

Shares of National Semiconductor climbed earlier in an intraday high of $14.80 but were lately down 21 cents, or 1.4%,t o $14.33.

Walgreen

(WAG)

shares traded higher after teh company said it has raised its quarterly dividend to 17.5 cents per share from 13.75 cents per share, an increase of 27.3%.

Walgreen

said teh new dividend is payable Sept. 11 to shareholders of record Aug. 19.

Walgreen shares were climbing by 26 cents, or 0.9%, to $29.37.

Elsewhere,

Cummins

(CMI) - Get Report

said Tuesday afternoon that it has upped its quarterly cash dividend by 50% to 26.25 cents per share from 17.5 cents per share. It is the first dividend increase Cummins has announced in two years. Cummins said the new dividend is payable on Sept. 1 to shareholders of record on Aug. 23.

Following the dividend increase announcement,

Moody's raised its ratings on Cummins

. After rising more than 4% Tuesday, Cummins shares gained 0.2% to $73.91 during Wednesday's trading session.

-- Written by Robert Holmes in Boston

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