More on Marvell's FQ1: The chipmaker is initiating a $0.06/share dividend (good for a yield of...

|About: Marvell Technology Group, Ltd. (MRVL)|By:, SA News Editor

More on Marvell's FQ1: The chipmaker is initiating a $0.06/share dividend (good for a yield of 1.8%), and expanding its stock buyback authorization by $500M to $848M. Marvell attributes its strong FQ1 performance to a 25% Q/Q increase in TD-SCDMA baseband chip sales for phones on China Mobile's network, and rising sales of notebook hard drive controller chips. $223M worth of shares were repurchased during the quarter. MRVL +3.7% AH. (PR)