MILPITAS, Calif. (AP) -- KLA-Tencor Corp. Chief Financial Officer Mark Dentinger plans to resign from his post.
The Milpitas, Calif., company, which makes equipment for manufacturing semiconductors, said Tuesday that he will be succeeded by Bren Higgins.
Higgins will assume CFO duties the day after KLA-Tencor files its annual report for the fiscal year ended June 30 with the Securities and Exchange Commission.
Dentinger will remain with KLA-Tencor through the end of the year as a senior adviser to help with the transition process.
Higgins currently serves as vice president of corporate finance. He oversees KLA-Tencor's treasury and investor relations and supports business development efforts.
Separately, KLA-Tencor said Tuesday that it is raising its quarterly dividend by 12.5 percent to 45 cents from 40 cents. It is the fifth increase in the company's dividend since dividends began in April 2005.
The increase is expected to take effect with the dividend that is to be declared in August.
Shares of KLA-Tencor gained 94 cents to $56.43 in midday trading. The stock has changed hands between $43.21 and $57.97 in the past 52 weeks and is up more than 16 percent since the start of the year.