Business

Market Movers

Chip maker boosts dividend, buybacks

Qualcomm is a leader in 3G, 4G, and next-generation wireless technologies.

Albert Gea/Reuters

Qualcomm is a leader in 3G, 4G, and next-generation wireless technologies.

Qualcomm Inc. advanced after the chip maker — it’s the biggest provider of mobile-phone chips — raised its quarterly dividend to 42 cents from 35 cents per share and added $5 billion to its stock buyback program. Buybacks generally benefit shareholders because they increase the value of remaining shares. The San Diego-based company’s buyback plan now has a total authorization of $7.8 billion. Qualcomm’s market value is about $124.5 billion, according to FactSet.

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