Texas Instruments Increases Quarterly Dividend 24 Percent

Texas Instruments Inc. (TXN), the largest maker of analog chips, raised its quarterly dividend by 24 percent to 21 cents a share.

The dividend will be payable on Nov. 19 to stockholders of record on Oct. 31, the Dallas-based company said today in a statement. The chipmaker said this is the ninth consecutive year it has raised the dividend.

Texas Instruments, the biggest provider of a type of chip that runs the electronics in devices ranging from home appliances to military hardware, joins a list of companies that have unveiled plans to return cash to shareholders in recent days. ConAgra Foods Inc. and McDonalds Corp. also raised their dividends today, while CVS Caremark Corp. (CVS) announced a $6 billion share repurchase plan yesterday.

Texas Instruments shares were little changed in extended trading, after earlier gaining less than 1 percent to $28.85 at the close in New York. The stock is down less than 1 percent so far this year.

To contact the reporter on this story: Lisa Rapaport in New York at lrapaport1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net