Qualcomm Raises Dividend by 20%

Now that the fears from Europe have subsided somewhat, the S&P 500 is rallying strongly this morning. According to the latest reports, Russian soldiers have concluded their exercises in western Russia. The S&P 500 has been as high as 1,868.94 this morning which is a new all-time intra-day high. The high close is 1,859.45 from last Friday.

The stocks in the small-cap Russell 2000 are especially strong today. Next month, the small-cap cycle turns 15 years old. If the S&P 500 had kept pace with the Russell 2000 since the start of this cycle, the S&P 500 would be over 4,000 today.

Several of our Buy List stocks are also doing well today. Moog ($MOG-A) was crushed in January, but the stock is creeping higher today. The shares are up close to 5% today, and are up more than 12% from last month’s low. DirecTV ($DTV) is up to a new high, and the stock came close to hitting $80 per share this morning. Oracle ($ORCL) is back over $39 per share this morning. The company said that it will release its next earnings report in two weeks, on March 18.

The best news for us this morning is that Qualcomm ($QCOM) announced a 20% increase to its dividend. The quarterly payout will rise from 35 cents to 42 cents per share. The board also approved a $5 billion increase to their buyback authorization. That brings the total authorization to $7.8 billion. Going by the late-morning share price, QCOM now yields 2.2% which is about the average for the market.

Posted by on March 4th, 2014 at 10:45 am


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