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UPDATE 1-Intel boosts quarterly cash dividend

Mon Nov 16, 2009 10:28am EST

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* Intel ups quarterly dividend to 15.75 cents/share

Stocks  |  Technology

* Increased payout to begin Q1 2010

* Shares up 2 percent

NEW YORK, Nov 16 (Reuters) - Giant chipmaker Intel Corp(INTC.O) raised its quarterly dividend by 12.5 percent on Monday, citing strong business prospects.

Beginning with the first quarter of 2010, Intel said it will pay a cash dividend of 15.75 cents per share, or 63 cents per share annually.

Intel shares rose more than 2 percent to $20.23 in morning trading on the Nasdaq.

"Intel's industry-leading product portfolio, outstanding execution and focus on the next wave of innovation and growth set the company up solidly for the future," Chief Executive Paul Otellini said in a statement.

Last week, Intel Chief Financial Officer Stacy Smith told Reuters that the chipmaker was on track to meet its fourth-quarter outlook and that a recovery in corporate spending on PCs could happen in the next 18 months. [ID:nN16306606] (Reporting by Anupreeta Das, editing by Gerald E. McCormick)

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