Intel and Sysco Raise Dividends

Intel (INTC) just announced that they’re raising their dividend by 15%. The quarterly dividend is going from 15.75 cents per share to 18 cents per share.

This means the full-year payout of 72 cents per share is about 3.4% of yesterday’s close. That’s 70 basis points higher than a 10-year Treasury. If you bought Intel 20 years ago today, you’d now be yielding 62% per year.

Intel’s CEO Paul Otellini said the company “remains on track to have our best year ever.” I had said the stock was a good buy under $20 but now that it’s closing in on $22, Intel isn’t quite the same bargain.

Sysco (SYY) also jumped into the dividend-raising act by bumping up its quarterly dividend by a penny per share to 26 cents per share. The stock now yields 3.6%.

Posted by on November 12th, 2010 at 9:46 am


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