Qualcomm's Positive Market Response#
Qualcomm shares experienced a boost of over 2% in pre-market trading on Tuesday, following the company's announcement of a substantial $20 billion share buyback program and an increase in its quarterly dividend.
Dividend Increase Details#
The board of directors at Qualcomm approved raising the quarterly cash dividend from $0.89 to $0.92 per share of common stock. This increase will take effect for dividends payable after March 26, 2026, resulting in an annual payout of $3.68 per share.
New Stock Buyback Program#
In addition to the dividend increase, Qualcomm has authorized a new stock repurchase program worth $20 billion, which is effective immediately. This new program supplements an existing buyback initiative announced in November 2024, which still has about $2.1 billion left in repurchase authority. Notably, the new buyback program does not have an expiration date.
Management's Commitment#
Cristiano Amon, president and CEO of Qualcomm, expressed satisfaction with the board's decisions, stating, "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."