Applied Materials Increases Cash Dividend
March 13 2020 - 7:30AM
Applied Materials, Inc. today announced that its Board of Directors
has approved an increase in the quarterly cash dividend from $0.21
to $0.22 per share payable on the company’s common stock. The
dividend is payable on June 11, 2020 to shareholders of record as
of May 21, 2020.
“We are increasing the dividend based on our strong cash flow
performance and ongoing commitment to return capital to
shareholders,” said Gary Dickerson, president and CEO. “We believe
the AI-Big Data era will create exciting long-term growth
opportunities for Applied Materials.”
The quarterly cash dividend is a key component of Applied’s
capital allocation strategy, and this marks the third consecutive
year of dividend increases. In the first quarter of fiscal 2020,
Applied returned $392 million to shareholders through
dividends and share repurchases. The company had approximately $1.7
billion remaining in its share buyback authorization at the end of
that period.
Forward-Looking StatementsThis press release
contains forward-looking statements, including those regarding our
current view of our industries and strategic position, capital
deployment strategy and commitment, and other statements that are
not historical facts. These statements and their underlying
assumptions are subject to risks and uncertainties and are not
guarantees of future performance. Factors that could cause actual
results to differ materially from those expressed or implied by
such statements include, without limitation: the level of demand
for our products; global economic and industry conditions; the
effects of regional or global health epidemics; global trade issues
and changes in trade policies; consumer demand for electronic
products; the demand for semiconductors; customers’ technology and
capacity requirements; the introduction of new and innovative
technologies, and the timing of technology transitions; our ability
to develop, deliver and support new products and technologies; the
concentrated nature of our customer base; changes in income tax
laws; our ability to expand our current markets, increase market
share and develop new markets; market acceptance of existing and
newly developed products; our ability to obtain and protect
intellectual property rights in key technologies; our ability to
achieve the objectives of operational and strategic initiatives,
align our resources and cost structure with business conditions,
and attract, motivate and retain key employees; the variability of
operating expenses and results among products and segments, and our
ability to accurately forecast future results, market conditions,
customer requirements and business needs; and other risks and
uncertainties described in our SEC filings, including our most
recent Forms 10-Q and 8-K. All forward-looking statements are based
on management’s current estimates, projections and assumptions, and
we assume no obligation to update them.
About Applied MaterialsApplied Materials, Inc.
(Nasdaq: AMAT) is the leader in materials engineering solutions
used to produce virtually every new chip and advanced display in
the world. Our expertise in modifying materials at atomic levels
and on an industrial scale enables customers to transform
possibilities into reality. At Applied Materials, our innovations
make possible the technology shaping the future. Learn more at
www.appliedmaterials.com.
Contact:Ricky Gradwohl (editorial/media)
408.235.4676Michael Sullivan (financial community) 408.986.7977
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