Applied Materials (AMAT) Raises Quarterly Dividend 23.1% to $0.32; Approves $10 Billion Buyback

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Go back to Applied Materials (AMAT) Raises Quarterly Dividend 23.1% to $0.32; Approves $10 Billion Buyback

Applied Materials Increases Cash Dividend by 23.1 Percent and Announces New $10 Billion Share Repurchase Authorization

March 13, 2023 7:30 AM EDT

SANTA CLARA, Calif., March 13, 2023 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a 23.1-percent increase in the quarterly cash dividend from $0.26 to $0.32 per share. The dividend is 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.

The dividend increase, our largest in five years, and the new share repurchase... More