Qualcomm’s board approved a new $20 billion stock repurchase authorization on March 17 2026, adding to the company’s existing $2.1 billion authority from November 2024. The combined authorization of $22.1 billion is unlimited in duration, giving Qualcomm broad flexibility to return capital to shareholders as cash flow permits.
The board also increased the quarterly cash dividend from $0.89 to $0.92 per share, effective for dividends payable after March 26 2026. The new quarterly dividend translates to an annualized payout of $3.68 per share and marks Qualcomm’s 23rd consecutive year of dividend increases, underscoring management’s confidence in the company’s cash‑flow generation.
Qualcomm’s decision comes on the back of robust free‑cash‑flow performance, with $4.4 billion generated in Q4 2025, a significant rise from prior periods. The capital‑return initiative is part of a broader strategy to diversify beyond the smartphone market, targeting a 50/50 split between mobile and non‑mobile revenue by 2029. Key growth areas include automotive, PCs, IoT, and AI, with the company projecting $8 billion in automotive revenue, $4 billion in PCs, and $14 billion in IoT by 2029.
President and CEO Cristiano Amon said the company remains “focused on stockholder returns and executing on our ongoing diversification opportunities while maintaining operating discipline.” Amon highlighted that Qualcomm has achieved quarterly revenue records and is committed to delivering growth across its diversification initiatives while meeting FY 2029 targets of $22 billion in non‑handset revenue.
The announcement was well received by investors, who noted the strong capital‑return program and Qualcomm’s solid free‑cash‑flow position. Analysts highlighted the company’s ability to fund diversification investments while maintaining a generous dividend policy, reinforcing confidence in Qualcomm’s long‑term strategy.
The move also signals Qualcomm’s intent to support its share price in a market where the stock had fallen about 22% year‑to‑date and faced downgrade pressure, suggesting that the capital‑return program is a strategic tool to address valuation concerns and reinforce shareholder value.
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