DOW JONES NEWSWIRES
Texas Instruments Inc. (TXN) raised its quarterly dividend by a
penny to 12 cents, the sixth year the chip maker has increased
payouts to shareholders.
By raising its payout, TI is going against a recent trend of
companies cutting or suspended dividends to hold onto their cash
amid the recession. A record low 233 companies increased dividend
payments during the second quarter, down from 455 during the
previous year, according to Standard & Poors data going back to
1956. And dividend decreases were posted by 250 companies during
the second quarter, the most in more than 50 years.
Earlier this month, TI, which makes chips used in everything
from cellphones to industrial machinery, raised its third-quarter
outlook, offering further evidence that the semiconductor market
may be improving.
TI's shares were at $23.71, up 0.5%, in after-hours trading. The
stock has gained more than half its value this year.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;
Kathy.Shwiff@dowjones.com