Microchip Technology (MCHP) Raises Quarterly Dividend 6.1% to $0.39; 1.1% Yield

Microchip Technology (NASDAQ: MCHP) declared a quarterly dividend of $0.39 per share, or $1.56 annualized. This is a 6.1% increase from the prior dividend of $0.3675.

The dividend will be payable on March 8, 2021, to stockholders of record on February 22, 2021, with an ex-dividend date of February 19, 2021.

The annual yield on the dividend is 1.1 percent.

“Microchip’s financial performance in the December 2020 quarter was strong driving significant cash generation and debt reduction,” said Steve Sanghi, Chief Executive Officer. “As we continue to make significant progress towards our debt reduction goals, our Board has decided to return additional cash to our stockholders through a higher dividend as part of our cash return strategy. Our Board is pleased to declare a 5.8% increase in our quarterly dividend to a record 39 cents per share, which continues to reflect confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning value to our stockholders.”

For a dividend history and other dividend-related data on Microchip Technology (MCHP) click here.

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