Broadcom Announces 11 Percent Increase in Quarterly Cash Dividend
Jan 31, 2012, 04:15 ET
IRVINE, Calif., Jan. 31, 2012 /PRNewswire/ -- Broadcom Corporation (NASDAQ: BRCM), a global innovation leader in semiconductor solutions for wired and wireless communications, today announced that its Board of Directors has approved an 11 percent increase in the quarterly cash dividend to $.10 per share ($.40 per share on an annual basis) payable to holders of the Company's Class A and Class B common stock. Today's announcement builds on the Company's strategy to return meaningful capital to shareholders.
The $.10 dividend was declared by the Board of Directors on January 30, 2012 and will be paid on March 5, 2012 to holders of record of the Company's Class A and Class B common stock at the close of business on February 17, 2012. The dividend so declared will be paid from U.S. domestic sources and will be treated for accounting purposes as a reduction of shareholders' equity.
"We are pleased to announce an 11 percent increase in our cash dividend," said Scott A. McGregor, Broadcom's President and Chief Executive Officer. "Broadcom's powerful balance sheet and consistent ability to outgrow our peers and deliver strong operating cash flow enable us to reinvest in our businesses while returning capital to our shareholders."
Broadcom's cash dividend policy and the payment of future cash dividends under that policy are subject to the Board's continuing determination that the dividend policy and the declaration of dividends are in the best interests of Broadcom's shareholders and are in compliance with all laws and agreements of Broadcom applicable to the declaration and payment of cash dividends.
Cautions Regarding Forward-Looking Statements
All statements included in this release, other than statements or characterizations of historical fact, are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current expectations, estimates and projections about our business and industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. Examples of such forward-looking statements include, but are not limited to, our intention to pay quarterly cash dividends and return capital to shareholders. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.
Important factors that may cause such a difference for Broadcom in connection with our dividend policy, include, but are not limited to:
- Our views on potential future capital requirements for investments in acquisitions and the funding of our research and development;
- Changes in federal and state income tax laws or corporate laws;
- Changes to our business model; and
- Changes in global economic conditions.
Broadcom's Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and other Securities and Exchange Commission filings discuss other important risk factors that could contribute to such differences or otherwise affect our business, results of operations and financial condition. The forward-looking statements in this release speak only as of this date. We undertake no obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.
Broadcom Corporation (NASDAQ: BRCM), a FORTUNE 500® company, is a global leader and innovator in semiconductor solutions for wired and wireless communications. Broadcom® products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. With the industry's broadest portfolio of state-of-the-art system-on-a-chip and embedded software solutions, Broadcom is changing the world by Connecting everything®. For more information, go to www.broadcom.com.
Broadcom®, the pulse logo, Connecting everything®, and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
SOURCE Broadcom Corporation; BRCM Corporate
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