Qualcomm Announces New $5 Bln Stock Buyback Program - Quick Facts

(RTTNews) - Qualcomm Inc. (QCOM) announced that its Board of Directors has approved a new $5.0 billion stock repurchase program, effective immediately.

The company stated that this replaces the prior $5.0 billion stock repurchase program announced on March 5, 2013, at which time Qualcomm had also announced a 40 percent increase in the quarterly cash dividend.

Since July 24, 2013, the company repurchased about 40.1 million shares of common stock for approximately $2.7 billion.

The new stock repurchase program has no expiration date. Repurchases under this program will be made using the company's cash resources and may be commenced or suspended at any time or from time-to-time at the company's discretion without prior notice.