Qualcomm Inc. QCOM, -0.35% said Wednesday it was raising its quarterly dividend by 4.6%, to 68 cents a share from 65 cents. The chip maker’s new dividend will be effective for dividends payable after March 25. The stock slipped 0.2% in morning trading to $128.80. Based on current prices, the new annual dividend rate increases the implied dividend yield to 2.11% from 2.02%. That compares with the yield on the SPDR Technology Select Sector ETF XLK, +0.04% of 0.92% and the implied yield on the S&P 500 SPX, +0.56% of 1.48%. Over the past 3 months, Qualcomm shares have lost 15.5%, while the technology ETF has gained 4.7% and the S&P 500 has tacked on 6.3%.
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