Applied Materials (AMAT) Raises Dividend
By Benzinga Staff
March 08, 2010 12:34 PM
March 08, 2010 12:34 PM
Applied Materials, Inc. (NASDAQ: AMAT) has announced on Monday that it will increase its quarterly dividend by 17%. The semiconductor equipment maker also announced that it plans to buy back up to $2 billion in shares.
The company will pay dividends of $0.07 per share, up from $0.06 per share. This represents a dividend yield of 1.95% at the current price level. The share buyback program, which has been authorized by the company’s board, will end in March 2013.
According to Applied Material’s CEO, and Chairman, Mike Splinter, the company’ strong financial position and operating cash flows will enable it to invest in growth opportunities, and reward shareholders at the same time.
The shares were trading at $12.37 at 12.31 p.m. in New York.
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