QCOM Stock Gains: Qualcomm Doubles Down On Shareholder Returns Amid Growth Concerns
Synopsis
The company’s Board of Directors approved raising the quarterly cash dividend from $0.89 to $0.92 per share.
Qualcomm Inc. (QCOM) has announced plans to boost shareholder returns through a higher dividend and a new stock buyback program.
The company’s Board of Directors approved raising the quarterly cash dividend from $0.89 to $0.92 per share, effective for payouts after March 26, lifting the annualized dividend to $3.68 per share.
The company also introduced a fresh $20 billion stock repurchase authorization, supplementing the $2.1 billion remaining from its November 2024 buyback program. Qualcomm stock traded over 3% higher in Tuesday’s premarket.
However, questions linger about whether the buyback reflects the company’s confidence in boosting shareholder returns or concerns about growth. On Monday, Seaport Research downgraded Qualcomm to Sell from Neutral, setting a $100 price target, according to TheFly.
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