Summary
Analog Devices, Inc. (ADI) filed an 8-K report on February 16, 2016, detailing significant financial and shareholder-return actions. The report announced the company's financial results for its fiscal first quarter ended January 30, 2016, as well as an increase in its quarterly cash dividend and a substantial expansion of its share repurchase authorization. These announcements signal management's confidence in the company's financial health and commitment to returning value to shareholders.
Key Highlights
- 1ADI reported its financial results for the fiscal first quarter ended January 30, 2016.
- 2The company's Board of Directors declared a quarterly cash dividend of $0.42 per share, an increase from the previous $0.40 per share.
- 3The new dividend payment date is March 8, 2016, with a record date of February 26, 2016.
- 4ADI's Board of Directors approved a $600 million increase to its share repurchase authorization.
- 5The total share repurchase authorization now stands at $1 billion.
- 6The report includes press releases detailing these financial results and shareholder return actions.
Frequently Asked Questions
The primary financial announcements were the company's fiscal first quarter 2016 results and decisions regarding shareholder returns, including an increased dividend and expanded share repurchase program.
The quarterly cash dividend was increased from $0.40 to $0.42 per outstanding share of common stock.
The Board of Directors approved an increase of $600 million, bringing the total share repurchase authorization to $1 billion.
The dividend will be paid on March 8, 2016, to shareholders of record as of the close of business on February 26, 2016.