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Update September 16, 2016 In new guidance today Intel raised its outlook for third quarter revenue to $15.6 billion, $300 million above previous guidance. The midpoint forecast for gross margin climbed to 63% versus the earlier midpoint forecast of 62%. None of this comes from any tax rate gimmick. Intel is now forecasting a tax rate of 22% versus a prior forecast for 21%. Instead the company is pointing to inventory replenishment in the supply chain and signs of improved demand for PCs.

Intel, a member of my Dividend portfolio, climbed on the news to close up 3.04%. The shares are now ahead 9.35% for the year and 30.7% over the last 12 months. Intel has gained 94.01% since I added it to the Dividend portfolio on January 11, 2013.

One “victim” of the stock price appreciation has been the dividend yield–since yield goes down as the price goes up. Intel now yields just 3.04%. The shares paid a dividend of 26 cents a share back on September 1 (record date of August 7.) That was an increase from the quarterly dividend of 24 cents a share paid in September 2015.