Lam Research hikes dividend by 13%
Lam Research Corp (LRCX) will raise its quarterly dividend by 13.0 percent to $1.30 per share in 2020. This follows a 4.5 percent dividend hike to $1.15 per share in 2019. The semiconductor company has now raised its dividend for 6 consecutive years since the first dividend was paid in 2014.
The next dividend of $1.30 per share will be paid on October 14, 2020 to holders of record on September 30, 2020. A new annual dividend rate of $5.20 per share yields 1.5% at a stock price of $341.
In a press release dated August 27, 2020, Lam Research announces this dividend hike and mentions that the increase is consistent with the intent for disciplined annual dividend growth by the company.
Shareholders have been rewarded with big dividend hikes by Lam Research since 2014, when a 18 cents per share quarterly dividend was initiated. In the last six year Lam hiked its dividend by double digits five times, with three very big increases of 120.0 percent (2018), 50.0 percent (2016) and 66.7 percent (2015).
The company will pay an estimated $755 million in dividends annually to shareholders if this last dividend hike is included. Lam Research has also been buying back big numbers of its own shares in the last couple of years with the number of shares outstanding decreasing by 6.8% in the last fiscal year 2020 (ended this June). In fiscal 2019 the number of shares outstanding was cut by 10.7 percent. Lam Research currently has 145.63 million shares outstanding with a free float of $145.19 million.
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company's products are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive devices, storage devices, and networking equipment. Lam's customer base includes leading semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, DRAM memory, and logic devices. Incorporated in 1980, Lam Research is headquartered in Fremont, California. The company has a network of facilities throughout Asia, Europe, and the United States. Lam Research initiated its dividend in 2014, and has increased it annually ever since.
The next dividend of $1.30 per share will be paid on October 14, 2020 to holders of record on September 30, 2020. A new annual dividend rate of $5.20 per share yields 1.5% at a stock price of $341.
In a press release dated August 27, 2020, Lam Research announces this dividend hike and mentions that the increase is consistent with the intent for disciplined annual dividend growth by the company.
Shareholders have been rewarded with big dividend hikes by Lam Research since 2014, when a 18 cents per share quarterly dividend was initiated. In the last six year Lam hiked its dividend by double digits five times, with three very big increases of 120.0 percent (2018), 50.0 percent (2016) and 66.7 percent (2015).
The company will pay an estimated $755 million in dividends annually to shareholders if this last dividend hike is included. Lam Research has also been buying back big numbers of its own shares in the last couple of years with the number of shares outstanding decreasing by 6.8% in the last fiscal year 2020 (ended this June). In fiscal 2019 the number of shares outstanding was cut by 10.7 percent. Lam Research currently has 145.63 million shares outstanding with a free float of $145.19 million.
Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company's products are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive devices, storage devices, and networking equipment. Lam's customer base includes leading semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, DRAM memory, and logic devices. Incorporated in 1980, Lam Research is headquartered in Fremont, California. The company has a network of facilities throughout Asia, Europe, and the United States. Lam Research initiated its dividend in 2014, and has increased it annually ever since.
