Microchip Technology hikes dividend by 0.1%
Microchip Technology (MCHP) will raise its quarterly dividend by another 0.1 percent to $0.368 per share in the third quarter of 2020. This follows similar dividend hikes in each of the last couple of quarters by the semiconductor products maker. This year Microchip has announced three dividend hikes so far for a total increase of 0.4 percent.
The next quarterly dividend is payable on September 4, 2020 to stockholders of record on August 21, 2020. The new annual dividend rate of approximately $1.47 per share yields 1.5% at a stock price of $100.
In a press release dated August 4, 2020 the company comments on the dividend hike:
“Microchip’s financial performance in the June 2020 quarter was strong given the backdrop of the COVID-19 pandemic driving very uncertain economic conditions,” said Steve Sanghi, Chief Executive Officer. “Our Board is pleased to declare an increase in our quarterly dividend to a record 36.8 cents per share, which continues to reflect confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning value to our stockholders.”
Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 64 times since its inception. Currently the company pays approximately $361 million in dividends to shareholders annually.
Microchip Technology Incorporated manufactures specialized semiconductor products used for embedded control applications. Its product portfolio targets the automotive, communications, computing, consumer and industrial control markets. Microchip is headquartered in Chandler, Arizona. Microchip was incorporated in Delaware in 1989 and initiated quarterly cash dividend payments in the third quarter of fiscal year 2003. The company typically raises its dividend a little bit every quarter but doesn't do big dividend hikes like many other semiconductor companies.
The next quarterly dividend is payable on September 4, 2020 to stockholders of record on August 21, 2020. The new annual dividend rate of approximately $1.47 per share yields 1.5% at a stock price of $100.
In a press release dated August 4, 2020 the company comments on the dividend hike:
“Microchip’s financial performance in the June 2020 quarter was strong given the backdrop of the COVID-19 pandemic driving very uncertain economic conditions,” said Steve Sanghi, Chief Executive Officer. “Our Board is pleased to declare an increase in our quarterly dividend to a record 36.8 cents per share, which continues to reflect confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning value to our stockholders.”
Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 64 times since its inception. Currently the company pays approximately $361 million in dividends to shareholders annually.
Microchip Technology Incorporated manufactures specialized semiconductor products used for embedded control applications. Its product portfolio targets the automotive, communications, computing, consumer and industrial control markets. Microchip is headquartered in Chandler, Arizona. Microchip was incorporated in Delaware in 1989 and initiated quarterly cash dividend payments in the third quarter of fiscal year 2003. The company typically raises its dividend a little bit every quarter but doesn't do big dividend hikes like many other semiconductor companies.
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