InterDigital Doubles Dividend; To Buy Back $300 Mln Of Stock - Quick Facts

(RTTNews) - InterDigital Inc. (IDCC), a wireless research and development company, announced that its board has approved a 100% increase in the company's quarterly cash dividend to $0.20 per share ($.80 per share on an annual basis) as well as a new $300 million stock repurchase authorization.

The company noted that the increase in the regular quarterly dividend will take effect beginning with the dividend to be paid in third quarter 2014. The company also announced that its Board of Directors had declared a regular quarterly cash dividend of $0.20 per share on its common stock, payable on July 23, 2014 to shareholders of record at the close of business on July 9, 2014.

According to the company, the new $300 million stock repurchase program replaces the previous $200 million repurchase authorization, which the Board of Directors authorized in 2012. As per the 2012 repurchase authorization, InterDigital has bought back 3.5 million shares for about $107 million.