Analog Devices Increases Quarterly Cash Dividend 9 Percent to $0.37 Per Share & Increases Share Buyback Authorization to $1 B...
19 February 2014 - 8:01AM
Business Wire
Analog Devices, Inc. (NASDAQ: ADI) today announced that its
Board of Directors has voted to increase its quarterly dividend by
9 percent to $0.37 from $0.34 per outstanding share of common
stock.
In addition, the Board of Directors has approved an increase to
the Company’s share repurchase authorization to $1 billion. As of
February 1, 2014, the Company had $443 million remaining under its
previous authorization.
“The cash dividend we initiated over ten years ago continues to
be the foundation of our capital allocation strategy,” said Vincent
Roche, President and CEO. “Our strong cash flow supports regular
dividend increases, which together with the one billion dollar
share repurchase authorization, further enhances shareholder
returns.”
Since the first dividend was paid in December 2003, ADI has paid
a cash dividend to shareholders every quarter. The Company has
increased its dividend 11 times, and has paid a total of $2.5
billion in dividends to shareholders over that period. The increase
is effective with the dividend payable on March 11, 2014 to
shareholders of record as of the close of business on February 28,
2014. The payment of any future quarterly dividends will be at the
discretion of the Board and will be dependent upon ADI’s financial
position, results of operations, outlook, liquidity, and other
factors deemed relevant by the Board.
Since the commencement of the Company’s repurchase program in
fiscal year 2004, the Company has repurchased approximately $4.6
billion of its outstanding shares. Under the program, the Company
may repurchase shares from time to time on the open market or in
privately negotiated transactions. ADI management will determine
the timing and amount of shares repurchased.
About Analog Devices
Innovation, performance, and excellence are the cultural pillars
on which Analog Devices has built one of the longest standing,
highest growth companies within the technology sector. Acknowledged
industry-wide as the world leader in data conversion and signal
conditioning technology, Analog Devices serves over 60,000
customers, representing virtually all types of electronic
equipment. Analog Devices is headquartered in Norwood,
Massachusetts, with design and manufacturing facilities throughout
the world. Analog Devices' common stock is included in the S&P
500 Index.
Analog Devices, Inc.Ali Husain, 781-461-3282Director of Investor
Relations781-461-3491 (fax)investor.relations@analog.com
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