TE Connectivity Approves Addl. $1.5 Bln Share Repurchase; To Raise Annualized Dividend By 10%

(RTTNews) - TE Connectivity Ltd. (TEL) said that its board has authorized an increase in its share repurchase program by an additional $1.5 billion.

In addition, the company board also approved a recommendation to increase the company's quarterly dividend from $0.59 to $0.65 per share for the four fiscal quarters starting in April 2024, the beginning of the third fiscal quarter.

The recommendation would raise the company's dividend by 10% from the annual rate of $2.36 per share to $2.60 per share, and will be presented for shareholder approval at the company's annual general meeting of shareholders on March 13, 2024.