Traders Cheer as Texas Instruments (TXN) Adds $7.5B to Buyback, Lifts Qtr. Dividend by 8% to 13/Share

Shares of Texas Instruments (NYSE: TXN) are trading about 4% higher in this evening's after-hours session following news that the company will add $7.5 billion to its repurchase program and also raises its quarterly dividend by 8% to $0.13 per share. At last check, TXN shares were trading around $25.94. Texas Instruments said the new repurchase authorization comes in addition to the $1.3 billion in buybacks it currently has remaining under its last plan. The company notes that with the inclusion of today's increase, the Board has authorized the repurchase of $27.5 billion in stock since late-2004. The quarterly dividend, meanwhile, moves from $0.12 to $0.13 per common share, payable on November 22 to shareholders of record on November 1. The ex-dividend date, then, will be on October 28. Based on today's closing price of $24.98, Texas Instruments yield moves from 1.92% to 2.08%.... Read more

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