DALLAS, Sept. 15, 2021 /PRNewswire/ -- Texas
Instruments Incorporated (TI) (Nasdaq: TXN) today said it will
raise its quarterly cash dividend 13%, from $1.02 per share to $1.15, or $4.60
annualized. The higher dividend will be payable November 15, 2021, to stockholders of record on
November 1, 2021, contingent upon
formal declaration by the board of directors at its regular meeting
in October.
This dividend increase is an integral piece of TI's disciplined
approach to capital management and reflects the company's continued
strength in free cash flow generation and its commitment to return
excess cash to stockholders. In the 12-month period ending
June 2021, TI has paid 56% of its
free cash flow in dividends.
TI has a proven track record of returning cash to its
shareholders. Today's announcement marks
18 consecutive years of dividend increases.
Notice regarding forward-looking statements
This release includes 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 generally can be identified by phrases
such as TI or its management "believes," "expects," "anticipates,"
"foresees," "forecasts," "estimates" or other words or phrases of
similar import. Similarly, statements herein that describe TI's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in
forward-looking statements.
We urge you to carefully consider the following important
factors that could cause actual results to differ materially from
the expectations of TI or our management:
- The duration and scope of the COVID-19 pandemic, government and
other third-party responses to it and the consequences for the
global economy, including to our business and the businesses of our
suppliers, customers and distributors;
- Economic, social and political conditions, and natural events
in the countries in which we, our customers or our suppliers
operate, including global trade policies;
- Market demand for semiconductors, particularly in the
industrial and automotive markets, and customer demand that differs
from forecasts;
- Our ability to compete in products and prices in an intensely
competitive industry;
- Evolving cybersecurity and other threats relating to our
information technology systems or those of our customers or
suppliers;
- Our ability to successfully implement and realize opportunities
from strategic, business and organizational changes, or our ability
to realize our expectations regarding the amount and timing of
associated restructuring charges and cost savings;
- Our ability to develop, manufacture and market innovative
products in a rapidly changing technological environment, and our
timely implementation of new manufacturing technologies and
installation of manufacturing equipment;
- Availability and cost of raw materials, utilities,
manufacturing equipment, third-party manufacturing services and
manufacturing technology;
- Product liability, warranty or other claims relating to our
products, manufacturing, delivery, services, design or
communications, or recalls by our customers for a product
containing one of our parts;
- Compliance with or changes in the complex laws, rules and
regulations to which we are or may become subject, or actions of
enforcement authorities, that restrict our ability to operate our
business or subject us to fines, penalties or other legal
liability;
- Changes in tax law and accounting standards that impact the tax
rate applicable to us, the jurisdictions in which profits are
determined to be earned and taxed, adverse resolution of tax
audits, increases in tariff rates, and the ability to realize
deferred tax assets;
- A loss suffered by one of our customers or distributors with
respect to TI-consigned inventory;
- Financial difficulties of our distributors or semiconductor
distributors' promotion of competing product lines to our
detriment; or disputes with current or former distributors;
- Losses or curtailments of purchases from key customers or the
timing and amount of distributor and other customer inventory
adjustments;
- Our ability to maintain or improve profit margins, including
our ability to utilize our manufacturing facilities at sufficient
levels to cover our fixed operating costs, in an intensely
competitive and cyclical industry and changing regulatory
environment;
- Our ability to maintain and enforce a strong intellectual
property portfolio and maintain freedom of operation in all
jurisdictions where we conduct business; or our exposure to
infringement claims;
- Instability in the global credit and financial markets;
- Increases in health care and pension benefit costs;
- Our ability to recruit and retain skilled personnel, and
effectively manage key employee succession; and
- Impairments of our non-financial assets.
For a more detailed discussion of these factors, see the Risk
factors discussion in Item 1A of TI's most recent Form 10-K. The
forward-looking statements included in this release are made only
as of the date of this release, and we undertake no obligation to
update the forward-looking statements to reflect subsequent events
or circumstances. If we do update any forward-looking statement,
you should not infer that we will make additional updates with
respect to that statement or any other forward-looking
statement.
About Texas Instruments
Texas Instruments Incorporated (Nasdaq: TXN) is a global
semiconductor company that designs, manufactures, tests and sells
analog and embedded processing chips for markets such as
industrial, automotive, personal electronics, communications
equipment and enterprise systems. Our passion to create a better
world by making electronics more affordable through semiconductors
is alive today, as each generation of innovation builds upon the
last to make our technology smaller, more efficient, more reliable
and more affordable – making it possible for semiconductors to
go into electronics everywhere. We think of this as Engineering
Progress. It's what we do and have been doing for decades. Learn
more at TI.com.
TXN-G
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SOURCE Texas Instruments Incorporated