KLA Corporation (NASDAQ: KLAC) announced a $7 billion share repurchase authorization and increased its quarterly dividend to $2.30 per share from $1.90, marking a 21% increase, according to a company statement.

The semiconductor equipment manufacturer made the announcements during its investor day event in New York City. The new share repurchase authorization adds to an existing program that had $3.944 billion remaining as of December 31, 2025.

The dividend increase represents the 17th consecutive annual increase for KLA. The company stated that future dividend declarations remain subject to board discretion and will depend on financial and legal requirements.

KLA also reaffirmed its guidance for the March 2026 quarter during the event, which featured presentations from CEO Rick Wallace, CFO Bren Higgins, and other senior executives.

"KLA's industry leading process control systems and services businesses are key enablers of the AI ecosystem and remain on track to continue to deliver sustainable market outperformance over the next several years," Wallace said in the statement.

The repurchase program allows for various methods including open market purchases, privately negotiated transactions, and accelerated share repurchase programs. The company noted that the timing, price and size of purchases will depend on stock prices, market conditions and other factors.

KLA develops equipment and services for manufacturing semiconductors, integrated circuits, and related electronics components. The company serves customers globally in the foundry, logic, memory, and advanced packaging markets.