Intel Boosts Dividend 7%; Third Increase in 18 Months (INTC)

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Computer processor maker Intel Corporation ( INTC ) on Monday announced a 7% increase to its quarterly dividend payout.

The new dividend of 22.5 cents per share, up from a previous 21 cents, will be declared in the third quarter of 2012. The move marks the third dividend increase for INTC in the past 18 months.

Intel CEO Paul Otellini commented, "2012 is expected to be another year of record revenues for Intel, with strong demand in our core business and significant progress in smartphones and other new growth areas. This latest dividend increase is one more example of our commitment to return cash to our stockholders as we continue to generate strong cash flow fueled by the global growth of computing."

Intel shares were mostly flat in premarket trading Monday.

The Bottom Line
Shares of Intel Corp ( INTC ) will now have a 3.23% dividend yield, based on the higher dividend payout and Friday's closing stock price of $27.90. The stock has technical support in the $24-$26 price area. If the shares can firm up, we see overhead resistance around the $30 price level.

Intel Corporation ( INTC ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: INTC

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