Texas Instruments Authorizes $15 Bln Stock Buyback

(RTTNews) - Texas Instruments Inc. (TXN) on Thursday said its board has authorized the purchase of $15 billion in common stock and has also raised its quarterly dividend by 8%.

The board of directors also authorized the company to repurchase an additional $15 billion of its common stock over time. This is in addition to approximately $8.2 billion of previously authorized repurchases that remained at the end of June 2022.

Quarterly dividend was raised by 8% from $1.15 per share to $1.24, payable on November 15, 2022, to stockholders of record on October 31, 2022.

The company said that "dividend increases and share repurchases are integral pieces of TI's disciplined approach to capital management and reflect the company's continued strength in free cash flow generation and its commitment to return all free cash flow to its owners over time."