Intel Corp raised its dividend by 15 percent and authorized another $10 billion in its share buyback program after posting solid results earlier this month.

The chipmaker declared a quarterly dividend of 18.12 cents per share on Monday.

Intel's board also increased its share buyback program by an additional $10 billion, increasing the overall outstanding buyback to $14.2 billion.

Today's announcement signals confidence in our fundamental business strategies both today and looking forward, Paul Otellini, Intel president and chief executive, said in a statement.

On January 13 Intel posted better-than expected revenue and margins for the fourth quarter, defying worries about the chipmaker's minor role in the booming smartphone and tablet computer market.

Shares of Intel were up 1.4 percent at $21.12 in early trade.

(Reporting by Jennifer Saba, editing by Gerald E. McCormick, editing by Dave Zimmerman)