Applied Materials Announces Increased Cash Dividend, $3 Billion Share Repurchase Authorization


Posted on March 5, 2012 @ 08:25 am



Applied Materials, Inc. announced that its Board of Directors has approved a 13% increase in the quarterly cash dividend to $0.09 per share, payable on June 14, 2012 to stockholders of record as of May 24, 2012. Applied's Board also approved a new stock repurchase program authorizing up to $3 billion in repurchases over the next three years ending in March 2015. Applied's current stock repurchase program, begun in 2010, has less than $1.0 billion remaining and will terminate concurrent with the start of the new repurchase program.

"Applied had record revenue and cash flows in FY 2011, and today's dividend increase demonstrates confidence in our ability to continue to deliver strong cash flow performance across our business cycles," said Mike Splinter, chairman and CEO. "Both the dividend and the share repurchase program demonstrate our ongoing commitment to return capital to our shareholders, while we continue to invest in the long-term growth of our businesses."

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