Applied Materials (AMAT, Financial), a leading semiconductor equipment manufacturer, has announced a 15% increase in its quarterly dividend, raising it from $0.40 to $0.46 per share. This adjustment elevates the annual dividend to $1.84 per share. Based on the company's recent closing stock price of $155.68, the annual dividend yield has risen from 1.03% to 1.18%.
The company, headquartered in Santa Clara, California, stated that the increased dividend will be distributed to shareholders of record as of May 22, with the payment scheduled for June 12. In addition to the dividend hike, Applied Materials has authorized an additional $10 billion for its stock buyback program. This follows a previous $10 billion buyback plan approved in March 2023, of which approximately $7.6 billion remained as of January 26.
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