Kulicke & Soffa Raises Quarterly Dividend; Expands Repurchase Authorization

Rhea-AI Summary

Kulicke & Soffa (NASDAQ: KLIC) has announced two significant shareholder-friendly moves: a dividend increase and an expanded share repurchase program. The company raised its quarterly dividend by $0.005 to $0.205 per share, marking its fifth consecutive annual dividend increase. The dividend will be paid on January 7, 2025, to shareholders of record as of December 19, 2024. Additionally, the Board authorized a new $300 million share repurchase program, which will commence after completing the current program with $30.3 million remaining. Since 2014, K&S has repurchased 30.2 million shares at an average price of $28.75 per share.

Positive

• Fifth consecutive annual dividend increase, showing consistent shareholder returns
• New $300 million share repurchase program authorized
• Strong history of share repurchases with 30.2 million shares bought at $28.75 average

Negative

• None.

Fifth Consecutive Annual Dividend Raise; Quarterly Dividend Increased to $0.205 
New $300 Million Share Repurchase Program

SINGAPORE, Nov. 13, 2024 /PRNewswire/ -- Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) ("Kulicke & Soffa," "K&S" or the "Company"), announced today that its Board of Directors has declared and authorized a quarterly dividend of $0.205 per share of common stock, representing a $0.005 increase over its most recent dividend. This dividend raise highlights the Company's commitment to a consistent shareholder return strategy and will be included in the January 7, 2025 dividend payable to holders of record as of the close of business on December 19, 2024.

In addition to the quarterly dividend increase, K&S expanded its shareholder return activities with a new $300 million share repurchase program authorized by its Board of Directors. This new program will begin after the completion of the Company's existing $800 million share repurchase program. At the completion of the 2024 fiscal year, the existing repurchase program – originally announced on August 15, 2017 – had $30.3 million of authorization remaining and is expected to be completed during the Company's fiscal first quarter 2025, ending December 28, 2024.

Cumulatively, since the announcement of the Company's initial repurchase program on August 27, 2014, K&S has repurchased a total of 30.2 million shares at an average price of approximately $28.75 per share in open market transactions.

About Kulicke & Soffa

Founded in 1951, Kulicke & Soffa specializes in developing cutting-edge semiconductor and electronics assembly solutions enabling a smart and more sustainable future. Our ever-growing range of products and services supports growth and facilitates technology transitions across large-scale markets, such as advanced display, automotive, communications, compute, consumer, data storage, energy storage and industrial.

Contacts:

Kulicke & Soffa
Marilyn Sim
Public Relations
P: +65-6880-9309
msim@kns.com

Kulicke & Soffa
Joseph Elgindy 
Finance 
P: +1-215-784-7500
investor@kns.com

View original content:https://www.prnewswire.com/news-releases/kulicke--soffa-raises-quarterly-dividend-expands-repurchase-authorization-302304500.html

SOURCE Kulicke & Soffa Industries, Inc.

FAQ

What is Kulicke & Soffa's (KLIC) new quarterly dividend amount?

Kulicke & Soffa's new quarterly dividend is $0.205 per share, representing a $0.005 increase from the previous dividend.

When will KLIC's next dividend be paid?

The dividend will be paid on January 7, 2025, to shareholders of record as of December 19, 2024.

How much is KLIC's new share repurchase authorization?

KLIC's Board authorized a new $300 million share repurchase program, which will begin after completing the existing program.

How many shares has KLIC repurchased since 2014?

Since 2014, KLIC has repurchased 30.2 million shares at an average price of approximately $28.75 per share.