- Announces increase in the quarterly dividend level to
$1.45 per share from $1.30, the 14th consecutive annual dividend
increase for KLA. Since inception in 2006, KLA has grown the
quarterly dividend level at an approximately 15% compounded annual
growth rate.
- Announces new $2 billion share
repurchase authorization that is incremental to $1.6 billion remaining under the original share
repurchase authorization, making total share repurchase
authorization approximately $3.6
billion as of Aug. 31, 2023.
MILPITAS, Calif., Sept. 5,
2023 /PRNewswire/ -- KLA Corporation is announcing an
increase in the quarterly dividend level to $1.45 per share from $1.30 per share, the fourteenth consecutive
annual increase in the quarterly dividend level for KLA. The
declaration and payment of future dividends is subject to the
Board's discretion and will depend on financial and legal
requirements and other considerations. The Company is also
announcing authorization from the Board of Directors to repurchase
up to $2 billion of the Company's
common stock. This is in addition to the existing share repurchase
authorization, which had approximately $1.6
billion remaining as of Aug. 31,
2023.
Repurchases can be made using a variety of methods, which may
include open market purchases, privately negotiated transactions,
accelerated share repurchase programs, or otherwise, all in
accordance with the requirements of the Securities and Exchange
Commission and other applicable legal requirements. The specific
timing, price and size of purchases will depend on prevailing stock
prices, general economic and market conditions, and other
considerations. The repurchase programs do not obligate the Company
to acquire any particular amount of its common stock, and the
repurchase programs may be suspended or discontinued at any time at
the Company's discretion.
"Today's announcement is consistent with KLA's long-standing
confidence in our business model focused on product
differentiation, free cash flow generation, and assertive capital
allocation. It also reflects optimism in our growth
strategies and continued progress towards our 2026 financial
targets." commented Rick Wallace,
president and CEO, KLA
Corporation.
About KLA:
KLA Corporation ("KLA") develops industry-leading equipment and
services that enable innovation throughout the electronics
industry. We provide advanced process control and process-enabling
solutions for manufacturing wafers and reticles, integrated
circuits, packaging, printed circuit boards and flat panel
displays. In close collaboration with leading customers across the
globe, our expert teams of physicists, engineers, data scientists
and problem-solvers design solutions that move the world forward.
Investors and others should note that KLA announces material
financial information including SEC filings, press releases, public
earnings calls and conference webcasts using an investor relations
website (http://ir.kla.com). Additional information may be found
at: www.kla.com (KLAC-F).
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SOURCE KLA Corporation