Lam Research (LRCX) Raises Quarterly Dividend 11.1% to $0.50; $2B Buyback

Lam Research (NASDAQ: LRCX) declared a quarterly dividend of $0.50 per share, or $2 annualized. This is an 11.1% increase from the prior dividend of $0.45. The dividend will be payable on January 10, 2018, to stockholders of record on December 6, 2017, with an ex-dividend date of December 5, 2017. The annual yield on the dividend is 1 percent.

Lam Research also announced that its Board of Directors has approved a $2 billion share repurchase authorization, with execution planned over the next 12 to 18 months; and a 11% increase of the company’s quarterly dividend.

"Our $2 billion share repurchase authorization and 11% growth in the quarterly dividend reflect the company’s outstanding performance, strong cash flow generation and our conviction in the exciting opportunities ahead for Lam," stated Martin Anstice, president and chief executive officer of Lam Research. "We remain committed to investing in sustainable growth and augmenting returns through the combination of share repurchases and growing our dividend over time.”

For a dividend history and other dividend-related data on Lam Research (LRCX) click here.

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