Applied Materials Increases Cash Dividend by 25 Percent
11 Marzo 2024 - 12:30PM
Applied Materials, Inc. today announced that its Board of Directors
has approved a 25-percent increase in the quarterly cash dividend
from $0.32 to $0.40 per share. The dividend is payable on June 13,
2024 to shareholders of record as of May 23, 2024.
“Our latest dividend increase reflects our confidence in Applied
Materials’ ability to generate profitable growth and strong free
cash flow,” said Brice Hill, Senior Vice President and CFO. “We
believe Applied can continue to outperform the semiconductor
equipment market in the years ahead, and we expect our services
business to deliver double-digit growth and more than enough
operating profit to support a growing dividend.”
The quarterly cash dividend is a key component of Applied’s
capital allocation strategy. Today’s announcement marks the seventh
consecutive year that Applied has raised its dividend. In March
2023, Applied announced a 23.1-percent increase in the quarterly
cash dividend from $0.26 to $0.32 per share and indicated its
intention to increase the dividend at an accelerated rate over the
next several years, which would double the previous dividend per
share. With the increase announced today, Applied has grown its
quarterly dividend paid per share at a 15-percent compound annual
growth rate over the past 10 years.
Forward-Looking StatementsThis press release
contains forward-looking statements, including those regarding our
ability to generate growth and free cash flow and to increase the
dividend at an accelerated rate, and other statements that are not
historical facts. 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 level of demand for our
products, our ability to meet customer demand, and our suppliers’
ability to meet our demand requirements; global economic, political
and industry conditions, including rising inflation and interest
rates; the implementation and interpretation of new export
regulations and license requirements, and their impact on our
ability to export products and provide services to customers and on
our results of operations; global trade issues and changes in trade
and export license policies; our ability to obtain licenses or
authorizations on a timely basis, if at all; consumer demand for
electronic products; the demand for semiconductors; customers’
technology and capacity requirements; the introduction of new and
innovative technologies, and the timing of technology transitions;
our ability to develop, deliver and support new products and
technologies; the concentrated nature of our customer base; our
ability to expand our current markets, increase market share and
develop new markets; market acceptance of existing and newly
developed products; our ability to obtain and protect intellectual
property rights in key technologies; our ability to achieve the
objectives of operational and strategic initiatives, align our
resources and cost structure with business conditions, and attract,
motivate and retain key employees; the effects of geopolitical
turmoil or conflicts, and of regional or global health epidemics;
acquisitions, investments and divestitures; changes in income tax
laws; the variability of operating expenses and results among
products and segments, and our ability to accurately forecast
future results, market conditions, customer requirements and
business needs; our ability to ensure compliance with applicable
law, rules and regulations and other risks and uncertainties
described in our SEC filings, including our recent Forms 10-Q and
8-K. While we expect to continue to pay dividends in the
future, the declaration of any future dividends or dividends at any
particular rate is subject to the discretion of the Board of
Directors and will depend on our financial condition, results of
operations, capital requirements, business conditions and other
factors, as well as a determination by the Board of Directors that
dividends are in the best interests of our stockholders. All
forward-looking statements are based on management’s current
estimates, projections and assumptions, and we assume no obligation
to update them.
About Applied MaterialsApplied 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.
Contact:Ricky Gradwohl (editorial/media)
408.235.4676Michael Sullivan (financial community) 408.986.7977
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