Qualcomm Increases Quarterly Dividend by 10 Percent
- $2.12 Per Share Annualized Dividend -
SAN DIEGO, March 8, 2016 /PRNewswire/ -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has approved a 10 percent increase in the Company's quarterly cash dividend. The quarterly cash dividend will increase from $0.48 to $0.53 per share of common stock and will be effective for quarterly dividends payable after March 23, 2016. This dividend increase will raise the annualized dividend payout to $2.12 per share of common stock.
Steve Mollenkopf, CEO of Qualcomm Incorporated, said, "Over the last several years, we have invested aggressively in our technology roadmap and returned substantial capital to stockholders as part of a balanced capital allocation strategy. The dividend increase announced today reflects both the strength of our ongoing cash flows, as well as our confidence that our investments have created a strong foundation for future earnings growth."
Qualcomm is hosting its annual meeting of stockholders today, March 8, 2016, in San Diego, California. The meeting will be simulcast on the Company's Investor Relations website at http://investor.qualcomm.com/events.cfm.
Qualcomm Incorporated (NASDAQ: QCOM) is a world leader in 3G, 4G and next-generation wireless technologies. Qualcomm Incorporated includes Qualcomm's licensing business, QTL, and the vast majority of its patent portfolio. Qualcomm Technologies, Inc., a wholly-owned subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of Qualcomm's engineering, research and development functions, and substantially all of its products and services businesses, including its semiconductor business, QCT. For more than 30 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit www.qualcomm.com.
This news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding the strength of our ongoing cash flows; our confidence that our investments have created a strong foundation for future earnings growth; and the size and timing of dividends. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: the risk that we do not generate sufficient cash flows to pay dividends at the times and at the levels anticipated or otherwise return capital to stockholders, or to invest in growth opportunities as anticipated; risks associated with commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers' and licensees' sales of products and services based on these technologies and our ability to drive our customers' demand for our products and services; competition in an environment of rapid technological change; our dependence on a small number of customers and licensees; attacks on our licensing business model, including current and future legal proceedings or actions of governmental or quasi-governmental bodies or standards or industry organizations; the enforcement and protection of our intellectual property rights; the continued and future success of our licensing programs; government regulations and policies, or adverse rulings in enforcement or other proceedings; the commercial success of our new technologies, products and services; our dependence on a limited number of third-party suppliers; claims by third parties that we infringe their intellectual property; acquisitions, strategic transactions and investments; the execution of our Strategic Realignment Plan; our stock price and earnings volatility; our indebtedness; our ability to attract and retain qualified employees; foreign currency fluctuations; global economic conditions that impact the mobile communications industry and failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors. These and other risks are set forth in the Company's Quarterly Report on Form 10-Q for the first quarter ended December 27, 2015 filed with the SEC. Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.
Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
Warren Kneeshaw, Investor Relations
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SOURCE Qualcomm Incorporated
Released March 8, 2016