CMC Materials Increases Quarterly Cash Dividend and Authorized Share Repurchase Program
March 03 2021 - 6:00AM
CMC Materials, Inc. (Nasdaq: CCMP) today announced that its Board
of Directors has declared a quarterly cash dividend of $0.46 per
share ($1.84 per share on an annualized basis) on the company's
common stock, an increase of approximately five percent over the
most recent quarterly dividend, which was most recently paid on or
about January 29, 2021. The dividend will be payable on or about
April 23, 2021 to shareholders of record at the close of business
on March 23, 2021. The Board also authorized an increase
in the company’s existing share repurchase program to $150 million,
from the approximately $27 million that was remaining as available
as of December 31, 2020.Over the last 17 years, the company has
distributed nearly $1 billion to its shareholders, approximately
$470 million through share repurchase programs, approximately $170
million through quarterly cash dividends, and nearly $350 million
in 2012 through a leveraged recapitalization with a special cash
dividend.Future declarations and payments of dividends, and share
repurchases are subject to the discretion and determination of the
company's Board of Directors and management. The company’s
Annual Meeting of Stockholders will be held at 8:00 a.m. Central
Time (9:00 a.m. Eastern Time) on Wednesday, March 3, 2021, as a
virtual meeting. To attend the virtual meeting, go to
www.virtualshareholdermeeting.com/CCMP2021. A webcast replay of the
Annual Meeting will be available until March 3, 2022. ABOUT
CMC MATERIALS, INC. CMC Materials, Inc., headquartered in
Aurora, Illinois, is a leading global supplier of consumable
materials, primarily to semiconductor manufacturers. The
company’s products play a critical role in the production of
advanced semiconductor devices, helping to enable the manufacture
of smaller, faster and more complex devices by its customers.
CMC Materials, Inc. is also a leading provider of performance
materials to pipeline operators. The company's mission is to
create value by delivering high-performing and innovative solutions
that solve its customers’ challenges. The company has
approximately 2,100 employees globally. For more information about
CMC Materials, Inc., visit www.cmcmaterials.com, or contact Colleen
Mumford, Vice President, Communications and Marketing, at
630-499-2600.SAFE HARBOR STATEMENTThis press release contains
forward-looking statements, which address a variety of subjects
including, for example, future sales and operating results; growth
or contraction, and trends in the industries and markets in which
the company participates such as the semiconductor, and oil and
gas, industries; the acquisition of, investment in, or
collaboration with other entities, including the company’s
acquisition of KMG, and the expected benefits and synergies of such
acquisitions; divestment or disposition, or cessation of investment
in certain, of the company’s businesses; new product introductions;
development of new products, technologies and markets; product
performance; the financial conditions of the company's customers;
the competitive landscape that relates to the company’s business;
the company's supply chain; natural disasters; various economic or
political factors and international or national events, including
related to global public health crises such as the COVID-19
pandemic, and the enactment of trade sanctions, tariffs, or other
similar matters; the generation, protection and acquisition of
intellectual property, and litigation related to such intellectual
property or third party intellectual property; environmental,
health and safety laws and regulations, and related compliance; the
operation of facilities by the company; the company's management;
foreign exchange fluctuation; the company's current or future tax
rate, including the effects of changes to tax laws in the
jurisdictions in which the company operates; cybersecurity threats;
financing facilities and related debt, pay off or payment of
principal and interest, and compliance with covenants and other
terms; and, uses and investment of the company's cash balance,
including dividends and share repurchases, which may be suspended,
terminated or modified at any time for any reason by the company,
based on a variety of factors. Statements that are not historical
facts, including statements about CMC Materials’ beliefs, plans and
expectations, are forward-looking statements. Such statements are
based on current expectations of CMC Materials’ management and are
subject to a number of factors and uncertainties, which could cause
actual results to differ materially from those described in the
forward-looking statements. For information about factors that
could cause actual results to differ materially from those
described in the forward-looking statements, please refer to CMC
Materials’ filings with the Securities and Exchange Commission
(“SEC”), including the risk factors contained in CMC Materials’
Annual Report on Form 10-K for the fiscal year ended September 30,
2020. Except as required by law, CMC Materials undertakes no
obligation to update forward-looking statements made by it to
reflect new information, subsequent events or
circumstances.Source: CMC Materials
Colleen Mumford
Vice President, Communications and Marketing
CMC Materials, Inc.
(630) 499-2600
CMC Materials (NASDAQ:CCMP)
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