Micron Initiates a Quarterly Cash Dividend of 10 Cents/Share

 By Maria Armental

Micron Technology Inc. will pay a dividend of 10 cents a share, starting in October, the company said Monday.

"Micron's remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet," Chief Executive Sanjay Mehrotra said in a statement.

The first dividend payout will be made on Oct. 18 to shareholders of record as of the close of business on Oct. 1.

Micron, which set multiple market and product revenue records in the most recent quarter and achieved the largest sequential earnings improvement in its history, reported a profit of $3.14 billion for the nine month period through June 3 on $19.43 billion in revenue, up from a profit of $1.7 billion on $15.38 billion in revenue for the comparable nine-month period a year earlier.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

August 02, 2021 16:34 ET (20:34 GMT)

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