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Thursday, February 21, 2013

Texas Instruments raises dividend, boosts share buyback, (NASDAQ: TXN)

Chipmaker Texas Instruments Inc raised its quarterly dividend by a third and said it will purchase back an additional $5 billion in stock.The company, which makes chips for everything from industrial equipment to cars, increased its quarterly dividend to 28 cents per share from 21 cents per share.The additional buyback brings the total outstanding repurchase authorization to $8.4 billion."These increases reflect the company's ability to generate cash and management's commitment to return it to shareholders," TI said in a statement on Thursday.

Texas Instruments Inc. (TI) designs and makes semiconductors, which it sells to electronics designers and manufacturers globally. Shares of TXN fell by 1.75% or $-0.58/share to $32.48. In the past year, the shares have traded as low as $26.06 and as high as $34.29. On average, 8200090 shares of TXN exchange hands on a given day and today's volume is recorded at 11390177.