Qualcomm (QCOM) Approves $4B Buyback; Boosts Qtr. Dividend 16% to 25c

Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has approved a 16 percent increase in the Company's quarterly cash dividend and, effective immediately, a new $4.0 billion stock repurchase program to replace the prior $3.0 billion stock repurchase program, which had $948 million of repurchase authority remaining, net of put options outstanding.

The cash dividend will increase from $0.215 to $0.25 per share of common stock and will be effective for quarterly dividends payable after March 23, 2012. This dividend increase will raise the annualized dividend payout to $1.00 per share of common stock.

Current yield on the new dividend is 1.6 percent.

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