NORWOOD, Mass.--(BUSINESS WIRE)--Analog Devices, Inc. (NYSE: ADI) today announced that its Board of Directors has approved a 20 percent increase in its regular quarterly dividend to $0.30 per outstanding share of common stock.
“Today’s cash dividend announcement signals our confidence in the long-term cash generation capability of ADI and our goal to continuously improve the rate of return for our shareholders,” said Jerald G. Fishman, President and CEO.
This marks the ninth time the Board has raised the dividend since the Company first began paying a quarterly cash dividend in November 2003. Since that time, a total of $1.7 billion in dividends have been paid to shareholders, representing approximately 39% of net income from continuing operations over the same time period.
The increase is effective with the dividend payable on March 28, 2012 to shareholders of record as of the close of business on March 9, 2012. The payment of any future quarterly dividends will be at the discretion of the Board and will be dependent upon ADI’s financial position, results of operations, outlook, liquidity, and other factors deemed relevant by the Board.
About Analog Devices
Innovation, performance, and excellence are the cultural pillars on which Analog Devices has built one of the longest standing, highest growth companies within the technology sector. Acknowledged industry-wide as the world leader in data conversion and signal conditioning technology, Analog Devices serves over 60,000 customers, representing virtually all types of electronic equipment. Analog Devices is headquartered in Norwood, Massachusetts, with design and manufacturing facilities throughout the world. Analog Devices' common stock is listed on the New York Stock Exchange under the ticker “ADI” and is included in the S&P 500 Index.
Safe harbor statement under the Private Securities Litigation Reform Act of 1995: This release may be deemed to contain forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, our statements regarding expected financial results and cash generation capability, and the magnitude and manner in which we make future dividend payments that are based on our current expectations, beliefs, assumptions, estimates, forecasts, and projections about the industry and markets in which Analog Devices operates. The statements contained in this release are not guarantees of future performance, are inherently uncertain, and involve certain risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements, and such statements should not be relied upon as representing Analog Devices’ expectations or beliefs as of any date subsequent to the date of this press release. We do not undertake any obligation to update forward-looking statements made by us. Important factors that may affect outcomes and results include: sovereign debt issues globally; any faltering in global economic conditions and financial markets; erosion of consumer confidence and declines in customer spending; unavailability of raw materials, services, supplies or manufacturing capacity; changes in geographic, product or customer mix; adverse results in litigation matters; and other risk factors described in our most recent filings with the Securities and Exchange Commission.