Integrated digital technology provider, Intel Corp. (NASDAQ: INTC – $34.50) said its board of directors approved an 8.3% increase in the annual dividend and provided guidance for 2016, saying it expects revenue growth in the mid-single digits. The cash dividend on an annual basis is now $1.04 beginning with the dividend that will be declared in the first quarter of 2016, up from a prior annual distribution of $0.96 per share and will yield investors 3%, at current levels. For 2016 Intel is also targeting gross margins of 62% plus or minus a couple of points and capital spending of $10 billion, plus or minus $500 million. The company went on to say that it would report $55.2 billion in revenue for 2015, in line with Wall Street estimates and estimated revenue growth “in the mid-single digit” percentages in 2016. Management believes the company can grow even if the PC chip business keeps declining, largely because of demand for memory chips and processors used in servers and varied devices represented by a trend called the Internet of Things. Intel is on track to conclude its acquisition of Altera early next year, subject to regulatory approval. The shares can continue to be held in a well-diversified income account.