Qualcomm’s board authorized a new $20 billion stock repurchase program.
This plan adds to approximately $2.1 billion remaining from a November 2024 buyback authorization. The new program takes effect immediately and carries no expiration date.
The company also increased its quarterly cash dividend by 3.4%. The dividend rose to $0.92 per share. The previous quarterly payout was $0.89.
This adjustment brings the annualized dividend to $3.68 per share. Qualcomm shares rose in premarket trading following the announcement.