Skyworks Solutions Inc. raised its quarterly dividend by 16% as the semiconductor manufacturer announced earnings for the third fiscal quarter.
The company's board declared a quarterly cash dividend of 44 cents per share, up from 38 cents per share in the prior quarter. The dividend is payable Sept. 17 to stockholders of record as of Aug. 27.
The company reported net income of $144.1 million in the third fiscal quarter, down from $286.5 million a year ago. Net revenue fell to $767 million from $894.3 million.
For the fourth fiscal quarter, Skyworks expects revenue in the range of $815 million to $835 million and non-GAAP EPS of $1.50 at the midpoint of the company's revenue range.