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 43.9 cents per share. The dividend is payable on December 6, 2023, to stockholders of record on November 22, 2023. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 79 times since its inception.
“Microchip’s financial performance in the September 2023 quarter was in line with expectations, resulting in solid cash generation and continued progress towards its capital return strategy,” said Steve Sanghi, Executive Chair. “Today, our Board of Directors approved a year-over-year increase in our dividend of 33.8% to 43.9 cents per share, up from our November 2022 dividend of 32.8 cents per share. This represents 85 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.”
