Qualcomm announces $20B stock buyback, boosts dividend

Qualcomm on Tuesday unveiled a $20 billion stock buyback program, adding to its existing $2.1 billion share repurchase authority. The move comes as the company seeks to return value to shareholders.

In addition, Qualcomm raised its quarterly cash dividend by over 3%, from 89 cents to 92 cents per share, News.Az reports, citing Reuters.

Shares of the company rose more than 2% in premarket trading following the announcement.

CEO Cristiano Amon said the company remains focused on shareholder returns while pursuing diversification opportunities in the semiconductor industry.

News.Az 

By Aysel Mammadzada