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Microchip Technology Raises Dividend

The chipmaker will pay a quarterly dividend of 25 cents a share.

Microchip Technology (MCHP) - Get Microchip Technology Incorporated (MCHP) Report announced an increased quarterly cash dividend of 25 cents a share on its common stock, payable on Nov. 22, to stockholders of record on Nov. 8.

The Chandler, Ariz.-based companay initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased the cash dividend by 56.3% from the dividend level one year ago.

"The increase in dividends today confirms the commitment of Microchip's Board of Directors and management to continue to deliver increasing value to our shareholders," the company said. "Cash flow generation in the September quarter of 2006 continued at very high levels, and we anticipate that to continue as we move forward."

Shares of the company rose 3 cents, or 0.1%, to $33.74 in after-hours activity Thursday.

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