Seagate Technology Raises Its High-Yield Dividend and Increases Share Repurchase Authorization

Take Seagate Technology (NASDAQ: STX), for instance. A dividend payout increase and new share repurchase authorization sweeten the deal for shareholders, but they should expect more turbulence ahead. A solid dividend payment still handily covered by long-term free cash flow (revenue less cash operating and capital expenses) generation caught my eye, and pessimism due to a cyclical downturn for semiconductor stocks made shares look too cheap to ignore.