NORWOOD, Mass.--(BUSINESS WIRE)--
Analog Devices, Inc. (NASDAQ: ADI)
today announced that its Board of Directors has voted to increase its
quarterly dividend by 2 cents to $0.42 from $0.40 per outstanding share
of common stock.
In addition, the Board of Directors has approved an increase to the
Company's share repurchase authorization to $1 billion. As of January
30, 2016, the Company had $415 million remaining under its previous
authorization.
"We are pleased to announce this increase to our dividend," said Vincent
Roche, President and CEO. "The cash generation capacity of our business
has enabled us to pay our shareholders a dividend every quarter since
December 2003, and to increase our dividend thirteen times over that
same period. We have returned to our shareholders more than $3.4 billion
through our dividend, which we believe shows our strong commitment to
shareholder returns."
The increase is effective with the dividend payable on March 8, 2016 to
shareholders of record as of the close of business on February 26, 2016.
The payment of any future quarterly dividends, or a future increase in
the quarterly dividend amount, will be at the discretion of the Board
and will be dependent upon ADI's financial position, results of
operations, outlook, liquidity, and other factors deemed relevant by the
Board.
Analog Devices commenced its stock repurchase program in fiscal year
2004, and since that date the Company has repurchased approximately $5.2
billion of its outstanding shares. Under the program, the Company may
repurchase shares from time to time on the open market or in privately
negotiated transactions. ADI management will determine the timing and
amount of shares repurchased.
About Analog Devices
Analog Devices designs and manufactures
semiconductor products and solutions. We enable our customers to
interpret the world around us by intelligently bridging the physical and
digital with unmatched technologies that sense, measure and connect.
Visit http://www.analog.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160216006607/en/
Analog Devices, Inc.
Mr. Ali Husain, 781-461-3282 (phone)
781-461-3491
(fax)
Treasurer and Director of Investor Relations
investor.relations@analog.com
Source: Analog Devices, Inc.
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