Kulicke & Soffa Expands Capital Return Program
June 14 2018 - 5:11PM
Business Wire
Initiates Quarterly Dividend of $0.12
Kulicke & Soffa Industries, Inc. (NASDAQ: KLIC) (“Kulicke
& Soffa”, “K&S” or the “Company”), announced today that its
Board of Directors has declared and authorized a quarterly dividend
of $0.12 per share of common stock, equivalent to an annual yield
of approximately 2%, based on the June 14, 2018 closing price of
$23.47. The dividend payment will be made on July 16, 2018 to
holders of record as of June 28, 2018. The payment of dividends
provides an additional method to increase the consistency of
capital returns to the Company’s shareholders beyond its current
share repurchase program.
“The Company’s diversification and growth has reduced volatility
and increased earnings quality, enhancing our confidence as we look
ahead. Our strong balance sheet, product positioning, ongoing
development programs and M&A pipeline are anticipated to create
additional growth opportunities into the future,” stated Fusen
Chen, President and Chief Executive Officer, “The existing business
model continues to generate adequate free cash flow to support
several new growth initiatives and also to expand our capital
return program through this meaningful and consistent
dividend.”
Going forward, the Company intends to pay a regular quarterly
dividend, subject to any new developments or circumstances.
About Kulicke &
Soffa
Kulicke & Soffa (NASDAQ: KLIC) is a leading provider of
semiconductor packaging and electronic assembly solutions
supporting the global automotive, consumer, communications,
computing and industrial segments. As a pioneer in the
semiconductor space, K&S has provided customers with market
leading packaging solutions for decades. In recent years,
K&S has expanded its product offerings through strategic
acquisitions and organic development, adding advanced packaging,
electronics assembly, wedge bonding and a broader range of
expendable tools to its core offerings. Combined with its extensive
expertise in process technology and focus on development, K&S
is well positioned to help customers meet the challenges of
packaging and assembling the next-generation of electronic devices
(www.kns.com).
Caution Concerning Results and Forward Looking
Statements
In addition to historical statements, this press release
contains statements relating to future events and our future
results. These statements are “forward-looking” statements within
the meaning of the Private Securities Litigation Reform Act of
1995, and include, but are not limited to, statements that relate
to our future expected dividend payouts and growth opportunities.
While these forward-looking statements represent our judgments and
future expectations concerning our business, a number of risks,
uncertainties and other important factors could cause actual
developments and results to differ materially from our
expectations. These factors include, but are not limited to: the
risk that the Company fails to meet its operational and financial
targets in order to adhere to its dividend policy; the risk that
customer orders already received may be postponed or canceled,
generally without charges; the risk that anticipated customer
orders may not materialize; the risk that our suppliers may not be
able to meet our demands on a timely basis; the volatility in the
demand for semiconductors and our products and services; the risk
that identified market opportunities may not grow or developed as
we anticipated; volatile global economic conditions, which could
result in, among other things, sharply lower demand for products
containing semiconductors and for the Company’s products, and
disruption of capital and credit markets; the risk of failure to
successfully manage our operations; the possibility that we may
need to impair the carrying value of goodwill and/or intangibles
established in connection with one or more of our prior
acquisitions; acts of terrorism and violence; risks, such as
changes in trade regulations, currency fluctuations, political
instability and war, which may be associated with a substantial
non-U.S. customer and supplier base and substantial non-U.S.
manufacturing operations; the impact of changes in tax law; the
risk that the Company will not identify suitable acquisition
opportunities or that any acquisitions will not be successful; the
risk that the Company fails to timely remediate the material
weaknesses identified in the Company’s internal controls over
financial reporting or that new material weaknesses or significant
deficiencies emerge; and the factors listed or discussed in Kulicke
and Soffa Industries, Inc. 2017 Annual Report on Form 10-K and our
other filings with the Securities and Exchange Commission. Kulicke
and Soffa Industries, Inc. is under no obligation to (and expressly
disclaims any obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or
otherwise.
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Kulicke & Soffa Industries, Inc.Joseph
ElgindyInvestor Relations & Strategic InitiativesP:
+1-215-784-7518F: +1-215-784-6180
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