Dividend increase: Texas Instruments

Article Excerpt

TEXAS INSTRUMENTS INC. $110 (Nasdaq symbol TXN; High-Growth Dividend Payer Portfolio, Manufacturing & Industry sector; Shares outstanding: 983.2 million; Market cap: $108.2 billion; Dividend yield: 2.3%; Dividend Sustainability Rating: Above Average; www.ti.com) is a leading maker of analog chips. They convert inputs, such as touch, sound and pressure, into electronic signals that computers can understand. Starting in November 2017, the company raised its quarterly dividend by 24.0%, to $0.62 a share from $0.50. The new annual rate of $2.48 yields 2.3%. Texas Instruments also added $6.0 billion to its share repurchase authorization. It will now buy back up to $10.6 billion of its shares. In the quarter ended December 31, 2017, revenues increased 9.8%, to $3.75 billion from $3.41 billion a year earlier. That’s due to strong demand from industrial and automotive clients. Excluding a charge related to U.S. tax reforms, earnings per share rose 6.9%, to $1.09 from $1.02. Texas Instruments is a buy. buy…