NXP Semiconductors (NXPI) Initiates $0.25 Quarterly Dividend; Provides Update on Buyback
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NXP Semiconductors (NASDAQ: NXPI) initiates a quarterly dividend of $0.25 per share, or $1 annualized.
The dividend will be payable on October 5, 2018, to stockholders of record on September 25, 2018, with an ex-dividend date of September 24, 2018.
The annual yield on the dividend is 1.1 percent.
“The decision by the board to initiate a dividend represents a meaningful milestone in our history and demonstrates confidence in our strong operating performance, significant free cash flow generation and positive long-term financial outlook,” said Richard Clemmer, NXP Chief Executive Officer.
“The initiation of the dividend represents a new phase in the growth of NXP as a world-class investment vehicle. The dividend reflects the confidence we have in NXP’s future cash flows, and over time we would expect it to represent 20-25 percent of our cash flow from operations,” said Peter Kelly, NXP Chief Financial Officer.
“Additionally, we would like to update you on the progress of our previously announced $5 billion repurchase program. As of the close of the market Sept. 10, 2018, we have repurchased 39.9 million shares, for a total of approximately $3.76 billion. We expect that the $5 billion buyback will be complete before the end of 2018,” said Kelly.
For a dividend history and other dividend-related data on NXP Semiconductors (NXPI) click here.
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