Applied Materials: Share Repurchase Program and Cash Dividend
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SANTA CLARA, California - Applied Materials, Inc. announced that its Board of Directors has approved a new $2 billion share repurchase program. This follows the completion of the $3 billion share repurchase program originally approved by the Board on April 26, 2015.
The Board of Directors also has approved a quarterly cash dividend of $0.10 per share payable on the company’s common stock. The dividend is payable on September 15, 2016 to shareholders of record as of August 25, 2016.
“We are confident in our ability to drive profitable growth as our strengths in materials engineering enable critical technology inflections in our markets,” said Robert Halliday, senior vice president and CFO. “Our new $2 billion share repurchase program and the dividend demonstrate Applied’s ongoing commitment to deliver attractive cash returns to shareholders.”
Over the past calendar year, Applied Materials has distributed more than $3.2 billion in the form of dividends and share repurchases.
Applied Materials had approximately 1.1 billion shares of common stock outstanding as of its most recent fiscal quarter end.
About Applied Materials
Applied Materials, Inc. (AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.