The company has declared another 10% increase in the dividend rate. Despite the fact that the dividend yield is only 1.1%, the dividend payout with a 10% increase is better than the current inflation rate of 8.3%.
The tech giant aims to pay a quarterly dividend of $0.68 per share, or $2.72 on an annualized basis. The previous dividend rate of the company was $0.62. The dividends will be paid in November and December 2022.
The company has declared dividend increases every year for the past 12 years. The quarterly dividend rate rose 8.5 times from the first payment. Back then, in fiscal year 2004, the dividend was $0.08 per share.