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Applied Materials Rising After Doubling Dividend, Adding $6B to Buybacks

Shares of chip equipment giant Applied Materials (AMAT) are up 28 cents, or 0.6%, at $52.24, after the company this afternoon reported fiscal Q1 revenue and profit that topped analysts’ expectations, and forecast revenue and profit higher this quarter as well, and said it would double its dividend payout per quarter, and add $6 billion to its share buybacks program. Buybacks and dividends are a theme this evening, with Cisco Systems (CSCO) announcing in its report adding $25 billion to buybacks, adding up’ing its dividend by 14%.