Shares of Silicon Motion Technology Corp. /zigman2/quotes/203091999/composite SIMO -3.08% shot up 5.2% in midday trading Monday, after the supplier of NAND flash controllers raised its dividend by 43%. The Taiwan-based company said it will pay an annual cash dividend of $2.00 per American depositary shares, up from a previous annual dividend of $1.40 a share. The payout of the dividend will be spread out as quarterly payments, to shareholders of record on Nov. 10, and on Feb. 14, May 12 and Aug. 11 of 2022. Based on current share prices, the new annual dividend rate implies a yield of 2.81%, which compares with the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -2.27% of 1.33%. The stock has rallied 47.7% year to date, while the PHLX Semiconductor Index /zigman2/quotes/210598361/realtime SOX -2.92% has advanced 21.7% and the S&P 500 has gained 21.4%.