SANTA CLARA, Calif., June 13, 2024 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a quarterly cash dividend of $0.40 per share payable on the company’s common stock. The dividend is payable on Sept. 12, 2024 to shareholders of record as of Aug. 22, 2024.
The cash dividend is a key component of Applied’s capital allocation strategy. In March 2023, Applied announced a 23-percent increase in the quarterly dividend, and in March 2024, Applied announced a 25-percent increase from $0.32 to $0.40 per share. Applied’s dividend per share has increased in each of the past seven years and grown at a compound rate of 15 percent over the past 10 years.
In the second quarter of fiscal 2024, Applied distributed $1.09 billion to shareholders through dividends and share repurchases. The company had approximately $11.2 billion remaining in its share buyback authorization at the end of the period.
Forward-Looking Statements
This press release may contain forward-looking statements, express or implied, regarding future rates of cash dividends. 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 Materials
Applied 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) 408.235.4676
Michael Sullivan (financial community) 408.986.7977
