Mobile chipmaker QUALCOMM (NASDAQ: QCOM – $76.79) announced that its Board of Directors has approved a 20% increase in the quarterly cash dividend and, effective immediately, a $5.0 billion increase in its stock repurchase authorization. The cash dividend will increase from $0.35 to $0.42 per share and will be effective for quarterly dividends payable after March 26, 2014. This dividend increase will raise the annualized dividend payout to $1.68 per share and yield 2.2% at current levels. The $5.0 billion increase in the stock repurchase program brings the current authorization to $7.8 billion. These shares have solid long-term price appreciation potential, especially when viewed on a risk-adjusted basis.