Broadcom Ltd (NASDAQ:AVGO) shares rose more than 4% in premarket deals after the semi-conductor group reported fourth quarter results and hiked its dividend.
Net revenue amounted to US$4.84bn, up 9% from US$4.46bn in the preceding quarter and 17% from the comparative quarter of last year. Gross margin was reported at US$2.38bn, or 49% of revenue, which is one percentage point better than last year.
The company had net income of US$671mln in the fourth quarter, up from US$507mln, and some US$1.95bn of cash was generated from operations.
It now intends to pay a US$1.75 per share dividend for the fourth quarter.
Broadcom shares were up US$12.11 or 4.4% changing hands at 275.57 each.