Intel Corp., the world’s largest producer of computer chips, Wednesday said it would double its quarterly cash dividend to four cents a share from two cents a share beginning in the first quarter.
The dividend payment will be March 1 for holders of record as of Feb. 7, the Santa Clara, Calif.-based company said in a statement. Intel began paying dividends in 1992, and has paid a dividend for 45 consecutive quarters.
The increase comes as shareholders press large technology companies that sit on billions of dollars in cash to increase cash dividends. Last September, Microsoft Corp. doubled its annual dividend as a concession to investors who demanded payouts from its $49 billion cash hoard.