Lam Research hikes dividend by 15.4%

Lam Research Corp (LRCX) will raise its quarterly dividend by 15.4 percent to $1.50 per share in 2021. This follows a dividend hike of 13.0 percent to $1.30 per share in 2020. The semiconductor company has now raised its dividend for 7 consecutive years since the first dividend was paid in 2014.

The next LRCX dividend of $1.50 per share will be paid on October 13, 2021 to holders of record on September 28, 2021. A new annual dividend rate of $6.00 per share yields 1.0% to Lam Research shareholders at a stock price of $610. The next ex-dividend date for LRCX stock is September 27, 2021.

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.