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Intel Doubles Cash Dividend

MANHASSET, N.Y. — Intel Corp. (Santa Clara, Calif.) has taken some lumps this year due to weakening market conditions and several strategic errors, but the semiconductor supplier remains loyal to its shareholders. The company's board of directors announced Wednesday (Nov. 10) that the quarterly cash dividend to shareholders was doubled to 8 cents per share, bringing Intel's total dividend payout to shareholders $4.1 billion over the past 48 quarters. Intel, which began paying dividends in 1992, expects to pay approximately $1 billion in cash dividends during 2004 and roughly $2 billion in 2005. In its most recent quarter, Intel earned $1.9 billion on sales of $8.5 billion, meeting guidance despite sluggish PC demand and inventory issues. Intel's board also authorized the repurchase of an additional 500 million shares of common stock under the company's ongoing stock repurchase program.