Texas Instruments Boosts Buyback |
| Wall Street Journal - Sep 21, 2007 |
Texas Instruments Inc. announced plans to buy back another $5 billion of its common stock and said its quarterly dividend will rise a further 25%.
The $5 billion authorized is on top of the nearly $3.8 billion still available under prior stock-repurchase plans. In the past three years, Texas Instruments' board has approved $20 billion in buybacks. Purchases through June 30 had cut the semiconductor giant's shares outstanding by 17%.
The Dallas company's market capitalization as of the end of trading Thursday was $50 billion.
Texas Instruments, which had no long-term debt as of June 30, had $3.58 billion in cash, cash equivalents and short-term investments on that date. The company's continuing operations generated $898 million in cash in the second quarter.
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- Posted: 2007-09-21 10:21:19
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