SANTA CLARA, Calif., June 10, 2021 (GLOBE NEWSWIRE) -- Applied Materials, Inc. today announced that its Board of Directors has approved a quarterly cash dividend of $0.24 per share payable on the company’s common stock. The dividend is payable on Sept. 16, 2021 to shareholders of record as of Aug. 26, 2021.
The quarterly cash dividend is a key component of Applied’s capital allocation strategy. In the second quarter of fiscal 2021, Applied announced a 9-percent dividend increase and a new $7.5 billion stock buyback authorization, supplementing the previous authorization which had approximately $525 million remaining at the end of the quarter. In addition, Applied announced a commitment to return between 80 and 100 percent of free cash flow to shareholders.
This press release contains a forward-looking statement regarding the expected free cash flow return rate which is subject to risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied by such statement include without limitation the risks and uncertainties described in our SEC filings, including our recent Forms 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.
About Applied Materials
Applied Materials, Inc. (Nasdaq: 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 a better future. Learn more at www.appliedmaterials.com.
Ricky Gradwohl (editorial/media) 408.235.4676
Michael Sullivan (financial community) 408.986.7977
Source: Applied Materials, Inc.