Broadcom Raises Quarterly Dividend by 11%

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Broadcom Raises Quarterly Dividend by 11%

Dow Jones12-13

By Sabela Ojea

Broadcom raised its quarterly dividend by 11% after reporting a big jump in revenue in its fiscal fourth quarter and guiding for further growth in the current quarter.

The Palo Alto, Calif., chip and software company on Thursday said that its board of directors declared a quarterly payout to shareholders of 59 cents, up 11% from 53 cents a share.

The new payout, equal to $2.36 annually, represents a yield of 1.31%, based on Broadcom's latest closing price of $180.66.

"The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the 14th consecutive increase in annual dividends since we initiated dividends in fiscal 2011," Finance Chief Kirsten Spears said.

Write to Sabela Ojea at sabela.ojea@wsj.com

(END) Dow Jones Newswires

December 12, 2024 16:46 ET (21:46 GMT)

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