Texas Instruments (TXN) Throws Shareholders a Bone; Raises Dividend and Shares Buyback

Texas Instruments Inc. (NYSE: TXN) announced after the closing bell on Thursday that it has approved an additional stock buyback program, while adding that it will raise its dividend paid out per share of common stock.The semiconductor maker reported that its Board of Directors authorized the company to repurchase an additional $7.5 billion of its common stock. This is in addition to the company’s $1.3 billion repurchase authorizations remaining at the end of its most recently competed quarter in June.Texas Instruments has authorized the repurchase of $27.5 billion of its stock since September 2004, and since that time the company has reduced the number of its shares outstanding by 533 million shares or 31 percent.The company added that it plans to raise its quarterly dividend by a penny per common share to 13 cents, resulting in an annual dividend payment of 52 cents per common share. The new quarterly cash dividend will be payable November 22 to stockholders of record on November 1."These actions are evidence of our company's ongoing commitment to return value directly to our shareholders," said Rich Templeton, TI chairman, president and chief executive officer. Shares of Texas Instruments are up 4.08 percent to $26.00 in aftermarket movement on Thursday.... Read more

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