Intel (NASDAQ:INTC) said today its board of directors has approved a 16% hike in its quarterly dividend, to $0.21 per share. The hike will begin with the dividend to be declared in the third quarter. This is the second dividend increase for the chip maker in six months, after a 15% hike last November.
Intel CEO Paul Otellini said increasing demand for computing allows the company to further increase its dividend, noting that Intel is on track for another record year, with revenue growth over 20%.
Intel shares are trading up over 2% Wednesday.
At more than 19% of the portfolio, Intel is the second-largest component in the Semiconductor HOLDRS (AMEX:SMH) fund, trading up 0.6% Wednesday.
Texas Instruments (NASDAQ:TXN) is just over 21% of the portfolio, and is trading up over 0.1% Wednesday.
Applied Materials (NASDAQ:AMAT), Altera (NASDAQ:ALTR), and Analog Devices (NASDAQ:ADI) round out the top five holdings in the fund.
The Proshares Ultra Semiconductors (AMEX:USD), which counts Intel as its top holding, is trading up 1.6%.
The iShares PHLX SOX Semiconductor Sector Index Fund (NASDAQ:SOXX) is trading up 0.4%, also with Intel as its top stock.
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