TI to return more cash to shareholders with 17% dividend increase
DALLAS, Sept. 19, 2019 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) today said it will raise its quarterly cash dividend by 17%, from $0.77 per share to $0.90, or $3.60 annualized. The higher dividend will be payable November 18, 2019, to stockholders of record on October 31, 2019, contingent upon formal declaration by the board of directors at its regular meeting in October.
This dividend increase is an integral piece of TI's capital management strategy and reflects the company's continued strength in free cash flow generation and its commitment to return excess cash to stockholders. In the 12-month period ending June 2019, TI has paid 47% of its free cash flow in dividends.
TI has a proven track record of returning cash to its shareholders. Today's announcement marks 16 consecutive years of dividend increases. In addition, as of second quarter 2019, the company has reduced its outstanding shares by 46% through its consistent share repurchases since the end of 2004.
Notice regarding forward-looking statements
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe TI's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or our management:
For a more detailed discussion of these factors, see the Risk Factors discussion in Item 1A of TI's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of this release, and we undertake no obligation to update the forward-looking statements to reflect subsequent events or circumstances. If we do update any forward-looking statement, you should not infer that we will make additional updates with respect to that statement or any other forward-looking statement.
About Texas Instruments
From connected cars and intelligent homes to self-monitoring health devices and automated factories, Texas Instruments Incorporated (TI) (Nasdaq: TXN) products are at work in virtually every type of electronic system. With operations in more than 30 countries, we engineer, manufacture, test and sell analog and embedded semiconductor chips. Our employees, about 30,000 worldwide, are driven by core values of integrity, innovation and commitment, and work every day to shape the future of technology. Learn more at www.TI.com.
SOURCE Texas Instruments Incorporated
Company Codes: NASDAQ-NMS:TXN
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