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Skyworks Announces Increase in Quarterly Dividend and New $400 Million Stock Repurchase Program

WOBURN, Mass.--(BUSINESS WIRE)--

Skyworks Solutions, Inc. (SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today announced that its Board of Directors has declared a quarterly cash dividend of $0.28 per share of the Company's common stock, representing an eight percent increase from the prior quarterly dividend of $0.26 per share. The dividend is payable on August 25, 2016, to stockholders of record as of the close of business on August 4, 2016.

In addition, Skyworks’ Board of Directors has authorized the repurchase of up to $400 million of the Company's common stock from time to time prior to July 19, 2018, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements. This newly authorized stock repurchase program replaces in its entirety the $400 million stock repurchase program that was approved by the Board of Directors on November 10, 2015, and had approximately $73 million of repurchase authority remaining.

The timing and amount of any shares of the Company’s common stock that are repurchased under the new repurchase program will be determined by the Company's management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s stock plans and for other corporate purposes.

The Company currently expects to fund the repurchase program using the Company's working capital. As of July 1, 2016, the Company had cash and cash equivalents of approximately $974 million.

About Skyworks

Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog semiconductors are connecting people, places, and things, spanning a number of new and previously unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

Headquartered in Woburn, Massachusetts...


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