Applied Materials Boosts Qtly Dividend 23.1%; Approves Addl. $10 Bln Share Buyback

(RTTNews) - Applied Materials, Inc. (AMAT) announced Monday that its Board of Directors has approved a 23.1 percent increase in the quarterly cash dividend to $0.32 per share from $0.26 per share, payable on June 15, 2023 to shareholders of record as of May 25, 2023.

The Board also approved a new share repurchase authorization enabling Applied to buyback an additional $10 billion of its shares over time. This supplements the previous authorization which had $4.7 billion remaining at the end of the first quarter of fiscal 2023.

Over the past 10 years, Applied has increased the quarterly dividend paid per share at an 11 percent compound annual growth rate and reduced the number of shares outstanding by nearly 30 percent.