STMicroelectronics (STM) Proposes 66% Dividend Increase

STMicroelectronics (NYSE: STM) management will submit a proposal to increase their annual dividend to $0.40 per outstanding common share. The proposal would be a 66.7% increase from the current annual rate of $0.24.

Yield on the new dividend will be 3.2%.

The proposal will be submitted for shareholder approval at the Company's Annual General Meeting, which will be held in Amsterdam on May 3, 2011.

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