Microchip Technology Incorporated, a leading provider of smart, connected, and secure embedded control solutions, today announced that its Board of Directors declared a quarterly cash dividend on its common stock of 41.0 cents per share. The dividend is payable on September 5, 2023, to stockholders of record on August 22, 2023. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 78 times since its inception.
“Microchip’s financial performance in the June 2023 quarter was in line with expectations, resulting in solid cash generation and further debt reduction and share repurchases,” said Steve Sanghi, Executive Chair. “Today, our Board of Directors approved a year-over-year increase in our dividend of 36.2% to 41.0 cents per share, up from our August 2022 dividend of 30.1 cents per share. This represents 84 consecutive quarters of dividend payments for Microchip and reflects confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning capital to our stockholders.”
