DALLAS (AP) — Chipmaker Texas Instruments Inc. says it will raise its quarterly cash dividend to 21 cents per share from 17 cents, a 24 percent increase.
TI has raised its dividend for nine straight years and has paid dividends since June 1962.
It said Thursday that the increase reflects its strengthening portfolio and lower capital needs.
The next quarterly dividend will be payable on Nov. 19 to shareholders of record as of Oct. 31.
Texas Instruments' shares rose 16 cents to $28.85 Thursday.