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Texas Instruments shares jump after dividend increase and US$12bn stock buyback

The dividend was raised by 24% to US$0.77 per share from US$0.62 per share

Texas Instruments logo on a building
The Texas-based company may be best known for its high-tech calculators

Texas Instruments Inc (NASDAQ:TXN) shares jumped after the company announced a dividend increase.

The dividend was raised by 24% to US$0.77 per share from US$0.62 per share, payable November 19 to shareholders of record on October 31.

Shares of the Texas-based company rose more than 2% to US$110.89 in Thursday after-hours trading.

The Board has also authorized a stock buyback of US$12bn worth of shares on top of previously announced US$7.4bn repurchase program.

The semiconductor company is perhaps best known for its high-tech calculators.

Quick facts: Texas Instruments

Price: 131.66 USD

NYSE:TXN
Market: NYSE
Market Cap: $123.07 billion
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