Qualcomm announces $20 billion buyback, boosts quarterly dividend
Qualcomm just announced a massive $20 billion stock buyback, plus a bump in its quarterly dividend from $0.89 to $0.92 per share.
No specific effective date was provided for the dividend increase.
This is on top of its previous buyback program, which still has some cash left.
Why this matters
If you're into tech or investing, this move shows Qualcomm's confidence.
Qualcomm is returning capital to shareholders through a $20 billion buyback and a higher quarterly dividend and is rewarding shareholders for sticking around.
The new annual payout will be $3.68 per share, and after the news broke, its stock jumped over 2% before markets opened.
Broader implications for Qualcomm
Qualcomm isn't just about smartphone chips anymore. It is using its strong financial position to keep investors happy while also expanding into areas like data centers and self-driving cars.
It's a sign they're thinking big for the future while keeping current shareholders in mind.