Qualcomm Inc. is set to pay a dividend of 62 cents per share to its stockholders as of May 30.
The San Diego-based tech giant (Nasdaq: QCOM) , which makes microchips and licenses intellectual property related to wireless communications technology, announced the upcoming quarterly dividend April 17.
The dividend is slated to be paid June 20.
On March 8, facing shareholder pressure in the midst of the now-defunct hostile takeover bid from rival Broadcom Ltd. (Nasdaq: AVGO), Qualcomm announced it would increase dividends by 9 percent.
The June 20 payout will be the first quarterly dividend Qualcomm pays at the higher rate of 62 cents per share rather than 57 cents per share.
CEO Steve Mollenkopf, when the dividend increase was announced, said Qualcomm expected the closure of its pending acquisition of Dutch company NXP Semiconductors to provide a foundation for future capital returns.
But rising trade tensions between the U.S. and China have put that deal in limbo as Qualcomm continues to wait on the final approval it needs – that of the Chinese government – for the deal to go through.
Qualcomm last increased its quarterly dividend in April of 2017, raising the payout by 7.5 percent to 57 cents per share from 53 cents per share. Qualcomm has paid dividends since 2003.
Reach reporter Sarah de Crescenzo at sarahd@sdbj.com.
