KLA Corp hikes dividend by 13.3%
KLA Corporation (KLAC), formerly KLA-Tencor, will raise its quarterly dividend by 13.3 percent to $0.85 per share in 2019. This follows last year's dividend hike from 59 cents to 75 cents per share quarterly.
A new annualized dividend rate of $3.40 per share yields 2.3% at a stock price of $151. KLA Corp has now increased its dividend for ten consecutive years. The next dividend is payable on Dec. 3, 2019 to KLA shareholders of record as of the close of business on Nov. 18, 2019.
"We are excited to host KLA Corporation's investor day to provide the investment community with a deeper understanding of our company and the opportunities that lie before us as we execute our strategic objectives," said Rick Wallace, president and CEO. "With the recent acquisition of Orbotech, we have have extended our reach in the global electronics value chain, and we continue to execute our profitable growth strategy, with the KLA operating model as the framework to drive performance," added Wallace. "The announced increase in the quarterly dividend level and new share repurchase authorization reflect our confidence in these strategies and the opportunities that lie ahead for KLA."
KLA Corporation, formerly KL-Tencor Corporation, is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The company's products are also used in a number of other high technology industries, including the packaging, light emitting diode (“LED”), power device, compound semiconductor, and data storage industries, as well as general materials research. KLAC was founded in 1997 through the merger of KLA Instruments and Tencor Instruments, two long-time leaders in the semiconductor equipment industry that began operations in 1975 and 1976, respectively. In 2019 the company changed its name from KLA-Tencor to KLA Corporation.
A new annualized dividend rate of $3.40 per share yields 2.3% at a stock price of $151. KLA Corp has now increased its dividend for ten consecutive years. The next dividend is payable on Dec. 3, 2019 to KLA shareholders of record as of the close of business on Nov. 18, 2019.
"We are excited to host KLA Corporation's investor day to provide the investment community with a deeper understanding of our company and the opportunities that lie before us as we execute our strategic objectives," said Rick Wallace, president and CEO. "With the recent acquisition of Orbotech, we have have extended our reach in the global electronics value chain, and we continue to execute our profitable growth strategy, with the KLA operating model as the framework to drive performance," added Wallace. "The announced increase in the quarterly dividend level and new share repurchase authorization reflect our confidence in these strategies and the opportunities that lie ahead for KLA."
KLA Corporation, formerly KL-Tencor Corporation, is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The company's products are also used in a number of other high technology industries, including the packaging, light emitting diode (“LED”), power device, compound semiconductor, and data storage industries, as well as general materials research. KLAC was founded in 1997 through the merger of KLA Instruments and Tencor Instruments, two long-time leaders in the semiconductor equipment industry that began operations in 1975 and 1976, respectively. In 2019 the company changed its name from KLA-Tencor to KLA Corporation.
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