I've posted similar comments. I believe Qualcomm has closer to $13.5Bil. That being said, management doesn't own much stock(the biggest disappointment in QCOM lack luster stock performance) maybe management can give the stock a bigger longer lasting lift by buying back shares. Yesterday, Intel closed on a $6Bil bond offering to buy back shares, at todays rates A rated companies like Intel, Qcom, etc have never been in a better position to buy back shares with cheap $$$
Tue Mar 6, 2012 11:38am EST
(Reuters) - Cellphone chip supplier Qualcomm Inc (QCOM.O) hiked its quarterly dividend by 16 percent and announced a new $4 billion share buyback program.
The new stock buyback plan replaces the company's prior $3 billion program, which had $948 million of repurchase authority remaining. The new plan, with $3.5 billion of available authority, has no expiration date, Qualcomm said.
At the end of last year, the company had 1.72 billion shares outstanding.
The quarterly cash dividend will increase to 25 cents per share from 21.5 cents per share. It will be effective for quarterly dividends payable after March 23.