KLA-Tencor (KLAC) Hikes Qtr. Dividend 3.9% to 54c/Share; Yields 1.9%

October 6, 2016 6:10 AM EDT

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KLA-Tencor (Nasdaq: KLAC) announced that its board of directors has authorized an increase of the level of the company's quarterly dividend from $0.52 to $0.54 per share. This increase is expected to take effect beginning with KLA-Tencor's quarterly dividend to be declared in November 2016. This represents a four percent increase compared to the prior quarterly dividend, and is the eighth quarterly dividend increase since KLA-Tencor first instituted its dividend policy in April 2005.

Yield on the dividend is about 1.9 percent.

"Today's dividend increase reflects the continued strength and sustainability of KLA-Tencor's cash flow, our confidence in our business model, and our commitment to enhancing stockholder value," said Rick Wallace, president and chief executive officer of KLA-Tencor.

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