Business

Qualcomm raises dividend by 40 percent

Qualcomm is the largest seller of cellphone semiconductors. Above, CEO Paul Jacobs.

David Becker/Getty Images/File 2013

Qualcomm is the largest seller of cellphone semiconductors. Above, CEO Paul Jacobs.

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Qualcomm increased its dividend by 40 percent to 35 cents and set up a $5 billion share buyback plan, rewarding investors after rising demand for smartphones that run on its technology spurred sales growth. The new share repurchase plan replaces an older $4 billion plan that had $2.5 billion remaining. Since 2003, Qualcomm has returned about $19.9 billion to investors through a combination of stock repurchases and cash dividends.

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