Thursday,
September 19st the Board of Directors of Texas Instruments
Incorporated (TXN) announced
that it will raise its quarterly dividend from $1.30 to $1.35 per
share that’s payable November 12, 2024 to holders of record October
31, 2024. This represents a 4.62% increase over the last quarterly
dividend. That announcement marks 21 consecutive years of dividend
increases.
The increase is consistent with TI’s
long-term objective for dividends by providing a sustainable and
growing dividend and reflects the company’s continued commitment to
return all free cash flow to its owners over time.
With current price $207.60 (yesterday’s
close), this raise brings their dividend yield to 2.62%.
Texas Instruments is a Dividend
Contenders with a 21 year streak of dividend increases. Dividend
growth rates for 1, 3, 5 and 10 years are 7.0, 10.5, 13.8 and 16.7
(Dividend Champions.xls)
Since I own 20 shares of TXN, this will
increase my portfolio’s projected annual net dividend income by
$3.58.
The increase was lower than I expected,
but I am also happy to accept this.
This is the third dividend increase
I’ve received from Texas Instruments since initiating a position
January 2022. During this period, the quarterly dividend has risen
reasonably from $1.15 to $1.36, or 18.3%.
This increase raises my Yield on Cost
to 3.37%.
Summary of 2024 Dividend Increases /
Cuts
Click here
to see my portfolio holdings.
You can follow the development of my
dividends here.
Full Disclosure: Long TXN
Thanks for stopping by!