Wednesday, July 20, 2011

Intel Adds $10 Billion to Its Share Repurchase Program (INTC)

Intel Adds 10 Billion to Its Share Repurchase Program INTC

Intel Adds $10 Billion to Its Share Repurchase Program (INTC)

Intel NASDAQ INTC flush with cash after reporting better-than-expected Q4 earnings announced that its Board of Directors have declared an 18 12 cent dividend and have authorized an increase of the company s share buyback program by an additional 10 billion This brings the total outstanding share buyback authorization to 14 2 billion Shares if Intel are trading more than 1 higher in early trade President and CEO Paul Otellini said quot In 2010 Intel achieved its best and most profitable year ever Today s announcement signals confidence in our fundamental business strategies both today and looking forward allowing us to return more cash to shareholders quot Intel said it spent 70 billion in share buybacks since 1990 and has paid out 21 billion in dividends since it started paying them out in 1992

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