SANTA CLARA, Calif., March 13, 2020 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved an increase in the quarterly cash dividend from $0.21 to $0.22 per share payable on the company’s common stock. The dividend is payable on June 11, 2020 to shareholders of record as of May 21, 2020.
“We are increasing the dividend based on our strong cash flow performance and ongoing commitment to return capital to shareholders,” said Gary Dickerson, president and CEO. “We believe the AI-Big Data era will create exciting long-term growth opportunities for Applied Materials.”
The quarterly cash dividend is a key component of Applied’s capital allocation strategy, and this marks the third consecutive year of dividend increases. In the first quarter of fiscal 2020, Applied returned $392 million to shareholders through dividends and share repurchases. The company had approximately $1.7 billion remaining in its share buyback authorization at the end of that period.
This press release contains forward-looking statements, including those regarding our current view of our industries and strategic position, capital deployment strategy and commitment, 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; global economic and industry conditions; the effects of regional or global health epidemics; global trade issues and changes in trade policies; 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; changes in income tax laws; 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 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; and other risks and uncertainties described in our SEC filings, including our most 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. (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 the technology shaping the future. Learn more at www.appliedmaterials.com.