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BUZZ-Qualcomm rises after new $20 billion stock buyback announcement

Reuters
Mar 17
BUZZ-Qualcomm rises after new $20 billion stock buyback announcement

** Chip company Qualcomm's QCOM.O shares gain 3.1% to $133.33 premarket

** QCOM announces a new $20.0 billion stock repurchase plan with no expiration date

** Says its board has approved an increase in the quarterly cash dividend to $0.92 from $0.89 per share

** The new stock repurchase authorization is in addition to the QCOM's stock repurchase program announced in November 2024, which has about $2.1 billion of repurchase authority remaining

** As of last close, stock down ~24% this year

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))

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