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Alexkid

Qualcomm shares rise as company announces new stock buyback plan, raises its dividend
(AP) 04:55:58 PM (ET), Tuesday, March 2, 2010 (SAN DIEGO)
Qualcomm Inc. shares jumped Tuesday after the wireless chip maker boosted its dividend and announced a new $3 billion stock buyback program.

The company's stock rose $2.37, or nearly 7 percent, to close at $37.93.

The company said late Monday that its directors approved the repurchase of up to $3 billion worth of stock _ a move that will boost Qualcomm's bottom line _ and raised the company's quarterly dividend by 12 percent.

The new buyback program has no expiration date. The quarterly dividend is rising by 2 cents to 19 cents per common share, effective for dividends payable after March 28.

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* Once the company is able to stand on it's own,it qualifies itself for this buyback program. *

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