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KLA Corporation Announces Increase in Quarterly Dividend Level
September 5, 2023 | KLAEstimated reading time: 1 minute
KLA Corporation is announcing an increase in the quarterly dividend level to $1.45 per share from $1.30 per share, the fourteenth consecutive annual increase in the quarterly dividend level for KLA. The declaration and payment of future dividends is subject to the Board's discretion and will depend on financial and legal requirements and other considerations. The Company is also announcing authorization from the Board of Directors to repurchase up to $2 billion of the Company's common stock. This is in addition to the existing share repurchase authorization, which had approximately $1.6 billion remaining as of Aug. 31, 2023.
Repurchases can be made using a variety of methods, which may include open market purchases, privately negotiated transactions, accelerated share repurchase programs, or otherwise, all in accordance with the requirements of the Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, and other considerations. The repurchase programs do not obligate the Company to acquire any particular amount of its common stock, and the repurchase programs may be suspended or discontinued at any time at the Company's discretion.
"Today's announcement is consistent with KLA's long-standing confidence in our business model focused on product differentiation, free cash flow generation, and assertive capital allocation. It also reflects optimism in our growth strategies and continued progress towards our 2026 financial targets." commented Rick Wallace, president and CEO, KLA Corporation.
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