Qualcomm Incorporated (NASDAQ: QCOM) announced its board of directors approved an increase in the quarterly cash dividend from $0.89 to $0.92 per share of common stock. The dividend increase becomes effective for quarterly dividends payable after March 26, 2026, raising the annualized dividend payout to $3.68 per share.

The board also approved a new $20 billion stock repurchase authorization, effective immediately. This authorization supplements the company's existing stock repurchase program announced in November 2024, which has approximately $2.1 billion of repurchase authority remaining. The new stock repurchase program has no expiration date.

The company stated that the timing of stock repurchases and the number of shares to be repurchased will depend on market conditions and other factors. Repurchases may be commenced or suspended at the company's discretion without prior notice and may occur through various methods including open market transactions, 10b5-1 programs, accelerated share repurchase programs, privately negotiated transactions, or derivative instruments.

"Consistent with our commitment to return capital to our stockholders, we are pleased that our board has approved an increase to our quarterly dividend and a new stock repurchase authorization," said Cristiano Amon, president and CEO of Qualcomm.

The information is based on a company press release statement.