TEXAS INSTRUMENTS PLANS TO RAISE QUARTERLY DIVIDEND; STOCK FALLS
Texas Instruments Inc.’s stock is currently trading at 128.27-lower by 0.43% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 0.71%. The stock has erased all of its earlier gains and turned negative after the opening bell.
The technology company said late Thursday that it is planning to raise its dividend by 17% to return more cash to stockholders. Texas Instruments will now pay $0.90 a share, up from $0.77 per share. The higher dividend will be payable on 18th November 2019 to stockholders of record on 31st October 2019, subject to a formal declaration from the board at its regular meeting in October.
The dividend increase reflects the chipmaker’s continued strength in free cash flow generation and its commitment to return excess cash to shareholders. In the 12-month period ending June 2019, the company has paid 47% of its free cash in the dividend.
On the technical front, the RSI is currently at 56.45% and suggests that the market can move in the downward direction. The current price is below the MA5. The %K has crossed the %D from above to the downside at around 83% and suggests that the market can move in the downward direction.
TRADE SUGGESTION- LIMIT SELL AT 128.30 TAKE PROFIT AT 127.50 STOP LOSS AT 128.70