|InterDigital Announces Increases Of Regular Quarterly Cash Dividend And Stock Buyback Authorization|
GlobeNewswire - Thu Sep 14, 4:19PM CDT
InterDigital, Inc. (NASDAQ:IDCC), a mobile technology research and development company, today announced that its Board of Directors has approved an increase in the company's quarterly cash dividend to $0.35 per share ($1.40 per share on an annual basis), as well as increased its existing stock repurchase program by $100 million.
The increase in the regular quarterly cash dividend will take effect beginning with the dividend to be paid in fourth quarter 2017. The Board of Directors also declared a regular quarterly cash dividend of $.35 per share on its common stock, payable on October 25, 2017 to shareholders of record at the close of business on October 11, 2017.
The company's Board of Directors authorized a $300 million stock repurchase program in June 2014, and in June 2015 increased the authorization to $400 million. Today's increase brings the total authorization under the program to $500 million. From June 2014 through today, InterDigital has bought back 6.7 million shares for approximately $314 million, leaving a total of approximately $186 million remaining under the authorization.