Qualcomm to buy back up to $15B of its shares

Chipmaker Qualcomm Inc. plans to buy back up to $15 billion of its shares and raise its quarterly dividend, Reuters reports.

The company said Monday it will start by buying up to $10 billion in shares during the next 12 months.

The buyback replaces a previous authorization of $2.1 billion.

Qualcomm also said its quarterly dividend would rise to 48 cents per share from 42 cents starting March 25.

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