PCTEL (PCTI) Raises Quarterly Dividend 25% to $0.05; Approves 5% Buyback

PCTEL (NASDAQ: PCTI) declared a quarterly dividend of $0.05 per share, or $0.2 annualized. This is a 25% increase from the prior dividend of $0.04.

The dividend will be payable on February 13, 2015, to stockholders of record on February 6, 2015, with an ex-dividend date of February 4, 2015.

The annual yield on the dividend is 2.5 percent.

At the same time, the Board of Directors authorized the re-purchase of five (5) percent of the company’s outstanding shares. PCTEL will file a 10b5-1 plan during the current open trading window that will outline the parameters for this program.

"We are committed to improving shareholder return,” said Marty Singer, PCTEL's Chairman and CEO. "The dividend increase and stock buyback is consistent with our balanced approach to capital allocation. While we continue to pursue opportunities to acquire financially attractive and strategically compatible assets, we also recognize the value of investing in PCTEL and providing a steady return to our shareholders,” added Singer.

For a dividend history and other dividend-related data on Pc-tel, Inc. (PCTI) click here.

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