Lam Research boosts dividend by 15.9% to $2.00 per share in 2023

On August 24, 20223, Lam Research Corp (LRCX) announced a dividend increase of 15.9 percent to $2.00 quarterly per share. This follows a 15.0 percent dividend hike by the semiconductor company last year and marks 9 consecutive years of increased dividends since the first dividend was paid in 2014.

This increase is consistent with the intent for disciplined annual dividend growth. The dividend payment will be made on October 4, 2023, to holders of record on September 13, 2023. Future dividend payments are subject to review and approval by the Board of Directors. The new annual dividend of $8.00 per share for LRCX yields 1.2% at a stock price of $655.

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.