Microchip Technology Raises Dividend; Shares Fall on Downbeat 3Q Guidance
Microchip Technology raised its dividend by 0.1 cents to 45.5 cents per share, but its stock fell after projecting fiscal third-quarter results that missed analyst expectations. The new payout, equal to $1.82 a year, represents an annual yield of about 2.4% based on Tuesday's closing price of $75.09.