NXP Semiconductors Declares Dividend and Share Buyback Program
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NXP Semiconductors Declares Quarterly Dividend
NXP Semiconductors N.V. (NASDAQ: NXPI) has announced an interim dividend as part of its ongoing capital return program. This decision reflects the company's strong financial position and the board’s confidence in its ability to contribute to long-term growth.
Details of the Interim Dividend Announcement
The board of directors approved an interim dividend of $1.014 per ordinary share for the third quarter. Shareholders on record will receive the dividend in cash, with payment scheduled for October 9, 2024. This reflects NXP's commitment to returning value to its shareholders.
Context of the Dividend Increase
The dividend announcement is part of NXP's strategy to return excess cash flows to shareholders and follows the historical pattern of providing regular dividends. A strong balance sheet and the company's ongoing performance allow NXP to sustain this approach.
Share Repurchase Authorization Expansion
In addition to the interim dividend, NXP has authorized an additional $2 billion for its existing share repurchase program. This new authorization complements approximately $726 million that is still available under the current repurchase plan, showcasing NXP's ongoing dedication to enhancing shareholder value.
Understanding the Share Repurchase Strategy
Share repurchase programs typically aim to reduce the number of outstanding shares, effectively increasing earnings per share and providing financial flexibility. NXP's decision reflects its robust cash flow generation capabilities and commitment to financial discipline.
Tax Implications on Cash Dividends
Shareholders should note that cash dividends declared by NXP will be subjected to a 15 percent Dutch dividend withholding tax. However, certain circumstances may allow for reductions or refunds on this tax for non-Dutch resident shareholders. It is advisable for shareholders to consult with their tax advisors regarding the specific tax implications of receiving dividends.
About NXP Semiconductors
NXP Semiconductors N.V. (NASDAQ: NXPI) is recognized as a leader in innovative solutions across various markets, including automotive, industrial, IoT, mobile, and communications. With operations in over 30 countries, NXP combines cutting-edge technology with a skilled workforce to create secure and efficient solutions for a connected world.
NXP’s Financial Performance
The company reported revenue of $13.28 billion in the previous fiscal year, which underscores its growth trajectory and commitment to leveraging technology for better connectivity and safety.
Contact Information
For further inquiries regarding this announcement, please reach out to the investors' contact:
Investor Relations
Jeff Palmer
Email: jeff.palmer@nxp.com
Phone: +1 408 518 5411
Media Inquiries
Paige Iven
Email: paige.iven@nxp.com
Phone: +1 817 975 0602
Frequently Asked Questions
What is the interim dividend amount announced by NXP Semiconductors?
The interim dividend announced is $1.014 per ordinary share.
When will NXP pay the interim dividend?
NXP plans to pay the interim dividend on October 9, 2024.
What is the total authorization for the share repurchase program?
The total authorization for the share repurchase program has increased to $2 billion, added to the existing approximately $726 million.
What are the tax implications of the cash dividends?
Cash dividends are subject to a 15 percent Dutch dividend withholding tax; exemptions or refunds may be available for non-Dutch resident shareholders.
What markets does NXP Semiconductors serve?
NXP serves various markets, including automotive, industrial, IoT, mobile, and communications infrastructure.
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