Intel boosts quarterly cash dividend

16 November 2009 @ 10:52 am EDT

Giant chipmaker Intel Corp raised its quarterly dividend by 12.5 percent on Monday, citing strong business prospects.

A man walks past an Intel wall at the 2009 Computex trade show in Taipei June 3, 2009. Electronics companies are showcasing their latest gadgets at the Computex trade show in Taiwan this week, as they aim to tempt buyers wary of spending in a global recession.

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Beginning with the first quarter of 2010, Intel said it will pay a cash dividend of 15.75 cents per share, or 63 cents per share annually.

Intel shares rose more than 2 percent to $20.23 in morning trading on the Nasdaq.

"Intel's industry-leading product portfolio, outstanding execution and focus on the next wave of innovation and growth set the company up solidly for the future," Chief Executive Paul Otellini said in a statement.

Last week, Intel Chief Financial Officer Stacy Smith told Reuters that the chipmaker was on track to meet its fourth-quarter outlook and that a recovery in corporate spending on PCs could happen in the next 18 months.

(Reporting by Anupreeta Das, editing by Gerald E. McCormick)

Intel boosts quarterly cash dividend

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