WILMINGTON, Mass., Feb. 18,
2025 /PRNewswire/ -- Analog Devices, Inc. (NASDAQ:
ADI), a global semiconductor leader, today announced that its Board
of Directors voted to increase its quarterly dividend by 8% to
$0.99 per outstanding share of common
stock, marking twenty-one consecutive years of higher dividends.
Additionally, the Board of Directors authorized the company to
repurchase an additional $10.0
billion of its common stock, bringing the total remaining
share repurchase authorization to approximately $11.5 billion. Under the share repurchase
program, the company may repurchase outstanding shares of its
common stock from time to time on the open market or through
privately negotiated transactions. ADI management will determine
the timing and number of shares to be repurchased.
"ADI's resilient business model and track record of delivering
profitable growth enables our return of 100% of free cash flow to
shareholders over the long term," said Vincent Roche, CEO and Chair. "Over the 21 years
of our capital return program, we have paid dividends amounting to
more than $13 billion and repurchased
approximately $16 billion of our
common stock. We have delivered this tremendous shareholder return
while continuing to invest vigorously in our cutting-edge product
portfolio, agile hybrid manufacturing network, and customer-centric
service model, enhancing our ability to deliver even more
attractive cash returns to our investors in the future."
The dividend increase is effective with the dividend payable on
March 17, 2025, to shareholders of
record as of the close of business on March
4, 2025.
About Analog Devices, Inc.
Analog Devices, Inc.
(NASDAQ: ADI) is a global semiconductor leader that bridges the
physical and digital worlds to enable breakthroughs at the
Intelligent Edge. ADI combines analog, digital, and software
technologies into solutions that help drive advancements in
digitized factories, mobility, and digital healthcare, combat
climate change, and reliably connect humans and the world. With
revenue of more than $9 billion in
FY24 and approximately 24,000 people globally, ADI ensures today's
innovators stay Ahead of What's Possible. Learn more at
www.analog.com and on LinkedIn and Twitter (X).
Forward Looking Statements
This press release
contains forward-looking statements regarding, among other things,
the timing and amount of cash dividends and share repurchases,
return of free cash flow, reinvesting in our business, delivering
value to shareholders and our financial position in the future.
Statements that are not historical facts, including statements
about our beliefs, plans and expectations, are forward-looking
statements. Such statements are based on our current expectations
and are subject to a number of factors and uncertainties, which
could cause actual results to differ materially from those
described in the forward-looking statements. The following
important factors and uncertainties, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: economic, political, legal and
regulatory uncertainty or conflicts; changes in demand for
semiconductor products; manufacturing delays, product and raw
materials availability and supply chain disruptions; products that
may be diverted from our authorized distribution channels; changes
in export classifications, import and export regulations or duties
and tariffs; our development of technologies and research and
development investments; our future liquidity, capital needs and
capital expenditures; our ability to compete successfully in the
markets in which we operate; our ability to recruit and retain key
personnel; risks related to acquisitions or other strategic
transactions; security breaches or other cyber incidents; risks
related to the use of artificial intelligence in our business
operations, products, and services; adverse results in litigation
matters; reputational damage; changes in our estimates of our
expected tax rates based on current tax law; risks related to our
indebtedness; the discretion of our Board of Directors to declare
dividends and our ability to pay dividends in the future; factors
impacting our ability to repurchase shares; and uncertainty as to
the long-term value of our common stock. For additional information
about factors that could cause actual results to differ materially
from those described in the forward-looking statements, please
refer to our filings with the Securities and Exchange Commission
("SEC"), including the risk factors contained in our most recent
Annual Report on Form 10-K. Forward-looking statements represent
management's current expectations and are inherently uncertain.
Except as required by law, we do not undertake any obligation to
update forward-looking statements made by us to reflect subsequent
events or circumstances.
Contact
Michael
Lucarelli
Vice President, Investor Relations
Analog Devices, Inc.
781-461-3282
investor.relations@analog.com
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SOURCE Analog Devices, Inc.
