Maxim Integrated Board Approves $1 Bln Share Buyback - Quick Facts

(RTTNews) - Maxim Integrated Products, Inc. (MXIM) announced its Board of Directors approved a 9% increase in the quarterly dividend and a new share repurchase authorization of $1 billion. The company said a cash dividend of $0.36 per share will be paid on September 14, 2017, to stockholders of record on August 31, 2017.

Tunc Doluca, CEO, stated: "The June quarter marked the third consecutive quarter in our return to year-over-year growth, led by double-digit increases in Industrial and Automotive. Through solid execution in our manufacturing strategy, we exceeded our profitability targets and demonstrated strong earnings power and cash flow growth."