Applied Materials Announces New $6 Billion Share Repurchase Authorization and Increases Cash Dividend by 8.3 Percent
Source: Nasdaq GlobeNewswire / 11 Mar 2022 07:30:22 America/New_York
SANTA CLARA, Calif., March 11, 2022 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a new $6 billion share repurchase authorization, supplementing the previous authorization which had $3.2 billion remaining at the end of the first quarter of fiscal 2022. In addition, the Board approved an 8.3-percent increase in the quarterly cash dividend from $0.24 to $0.26 per share, marking the fifth consecutive annual dividend increase. The dividend is payable on June 16, 2022 to shareholders of record as of May 26, 2022.
“The new share repurchase authorization and dividend increase demonstrate Applied Materials’ confidence in the long-term growth of our markets, the strength of our technology, and our ability to generate strong cash flow and attractive shareholder returns,” said Gary Dickerson, President and CEO. “Our broad portfolio of innovative products puts Applied in a great position to outperform our markets in the years ahead.”
This press release contains forward-looking statements, including those regarding anticipated growth in our businesses and markets, technology transitions, business and cash flow performance, and market share positions. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include without limitation the risks and uncertainties described in our SEC filings, including our recent Forms 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.
About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.