SAN DIEGO, March 7, 2017 /PRNewswire/ -- Qualcomm Incorporated (Nasdaq: QCOM) today announced that its Board of Directors has approved a 7.5 percent increase in the Company's quarterly cash dividend. The quarterly cash dividend will increase from $0.53 to $0.57 per share of common stock and will be effective for quarterly dividends payable after March 22, 2017. This dividend increase will raise the annualized dividend payout to $2.28 per share of common stock.
Steve Mollenkopf, CEO of Qualcomm Incorporated, said, "We are pleased to announce an increase in our quarterly dividend, a reflection of our commitment to returning capital to stockholders as we continue targeted investments in our technology roadmap. We look forward to closing the pending acquisition of NXP later this calendar year and expect the strong combined cash profile of Qualcomm and NXP to further strengthen our foundation for future capital returns for our stockholders."
Qualcomm is hosting its annual meeting of stockholders today, March 7, 2017, in San Diego, California. The meeting will be simulcast on the Company's Investor Relations website at http://investor.qualcomm.com/events.cfm.
Qualcomm's technologies powered the smartphone revolution and connected billions of people. We pioneered 3G and 4G - and now we are leading the way to 5G and a new era of intelligent, connected devices. Our products are revolutionizing industries, including automotive, computing, IoT, healthcare and data center, and are allowing millions of devices to connect with each other in ways never before imagined. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, all of our engineering, research and development functions, and all of our products and services businesses, including, our QCT semiconductor business. For more information, visit www.qualcomm.com.
This news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our commitment to returning capital to stockholders as we continue targeted investments in our technology roadmap; the timing of the closing of the pending acquisition of NXP; and our expectation that the combined cash profile of Qualcomm and NXP will further strengthen our foundation for future capital returns for our stockholders. Forward-looking statements are generally identified by words such as "estimates," "guidance," "expects," "anticipates," "intends," "plans," "believes," "seeks" and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: our ability to maintain our cash dividend program; risks associated with our pending acquisition of NXP; commercial network deployments, expansions and upgrades of CDMA, OFDMA and other communications technologies, our customers' and licensees' sales of products and services based on these technologies and our customers' demand for our products and services; competition in an environment of rapid technological change; our dependence on a small number of customers and licensees; our dependence on the premium-tier device segment; attacks on our licensing business model, including current and future legal proceedings or actions of governmental or quasigovernmental bodies or standards or industry organizations; the enforcement and protection of our intellectual property rights; the continued and future success of our licensing programs and the need to extend license agreements that are expiring; government regulations and policies, or adverse rulings in enforcement or other proceedings; the commercial success of our new technologies, products and services, including our ability to extend our products into new and expanded product areas and adjacent industry segments; our dependence on a limited number of third-party suppliers; claims by third parties that we infringe their intellectual property; strategic acquisitions, transactions and investments; our use of open source software; our stock price and earnings volatility; our indebtedness; our ability to attract and retain qualified employees; foreign currency fluctuations; global regional or local economic conditions that impact the industries in which we operate; failures in our products or services or in the products or services of our customers or licensees, including those resulting from security vulnerabilities, defects or errors; security breaches of our information technology systems; and potential tax liabilities. These and other risks are set forth in the Company's Quarterly Report on Form 10-Q for the fiscal first quarter ended December 25, 2016 filed with the SEC. Our reports filed with the SEC are available on our website at www.qualcomm.com. We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.
Qualcomm is a registered trademark of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
John Sinnott, Investor Relations
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SOURCE Qualcomm Incorporated