Recent dividend hikes from Qualcomm, Analog Devices and Microchip Technology
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Tech stocks with long-term dividend histories are particularly attractive for investors looking for both growth and stable income. Here we look at three companies that recently announced dividend hikes: QUALCOMM, Analog Devices, and Microchip Technology.
Qualcomm
QUALCOMM Incorporated (NASDAQ:QCOM) develops and commercializes foundational wireless technologies worldwide. The company operates through three segments: QCT (Qualcomm CDMA Technologies), QTL (Qualcomm Technology Licensing) and QSI (Qualcomm Strategic Initiatives). The QCT segment supplies integrated circuits and systems software for wireless voice and data communications, networking and computing products. The QTL segment licenses intellectual property for wireless products and the QSI segment invests in early-stage companies across a variety of industries, including 5G and AI.
Qualcomm has maintained its dividend payment for 22 consecutive years and increased it for 21 years. In April, it raised its quarterly dividend by 6.2% to $0.85 a share, or $3.40 annually, for a yield of 1.72%.
The company’s shares have risen more than 37% since the beginning of the year, and the company has beaten consensus estimates for EPS and revenue for each of the past three quarters. Over the past 12 months, Qualcomm generated revenue of $36.4 billion and net income of $8.38 billion.
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Analog Devices
Analog Devices, Inc. (NASDAQ:ADI) is a global semiconductor leader that designs, manufactures, and sells integrated circuits (ICs), software and subsystems. The company provides data converter, power management and reference products for a wide range of applications in the automotive, communications, industrial and consumer markets.
Analog Devices has raised its dividend for the 21st consecutive year. In February, the company increased its quarterly dividend by 7% to $0.92 a share, for an annualized dividend of $3.68, for a yield of 1.62%.
The company’s shares have risen more than 15% since the beginning of the year, and the company has beaten consensus estimates for EPS and revenue for the past two quarters. Over the past 12 months, Analog Devices generated revenue of $10.46 billion and net income of $2.14 billion.
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Microchip Technology
Microchip Technology Incorporated (NASDAQ:MCHP) develops, manufactures and sells smart, connected and secure embedded control solutions worldwide. The company offers a wide range of microcontrollers and microprocessors for automotive, industrial, computing and communications applications.
The story continues
Microchip has paid a dividend for 23 consecutive years, with 12 years of increases, and in May raised its quarterly dividend by 18% to $0.452 a share, or $1.808 annually, for a yield of 2.01%.
Over the past 12 months, Microchip generated revenue of $7.6 billion and net income of $1.9 billion.
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This article, “Recent Dividend Hikes from Qualcomm, Analog Devices and Microchip Technology” originally appeared on Benzinga.com.
