Lam Research Corporation Announces a 15% Increase in Quarterly Dividend

Rhea-AI Summary

Lam Research (Nasdaq: LRCX) has announced a significant 15% increase in its quarterly dividend. The dividend will rise from $2.00 to $2.30 per share of common stock. This increased dividend will be paid on October 1, 2024, to shareholders of record as of September 17, 2024.

Lam Research is a global leader in wafer fabrication equipment and services for the semiconductor industry. The company's technology is important in building smaller, more efficient chips, with nearly every advanced chip today utilizing Lam's technology. As a FORTUNE 500® company, Lam Research continues to demonstrate its commitment to shareholder value through this dividend increase.

Positive

• 15% increase in quarterly dividend from $2.00 to $2.30 per share
• Demonstrates strong financial position and commitment to shareholder returns
• Indicates confidence in future cash flow and business prospects

Negative

• None.

FREMONT, Calif., Aug. 29, 2024 /PRNewswire/ -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a $0.30, or 15%, increase in its quarterly dividend, from $2.00 to $2.30 per share of common stock. The dividend payment will be made on October 1, 2024, to holders of record on September 17, 2024. Future dividend payments are subject to review and approval by the Board of Directors.

About Lam Research:

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX)

Caution Regarding Forward-Looking Statements:

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to but are not limited to our plans to make dividend payments, declare dividends, or grow dividend amounts. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this press release.

Company Contacts:
Ram Ganesh
Investor Relations
(510) 572-1615
Email: investor.relations@lamresearch.com
Source: Lam Research Corporation###

View original content to download multimedia:https://www.prnewswire.com/news-releases/lam-research-corporation-announces-a-15-increase-in-quarterly-dividend-302234399.html

SOURCE Lam Research Corporation

FAQ

What is the new quarterly dividend amount for Lam Research (LRCX)?

Lam Research (LRCX) has increased its quarterly dividend to $2.30 per share, up from $2.00 previously.

When will Lam Research (LRCX) pay its next dividend?

Lam Research (LRCX) will pay its next dividend on October 1, 2024, to shareholders of record as of September 17, 2024.

By what percentage did Lam Research (LRCX) increase its dividend?

Lam Research (LRCX) increased its quarterly dividend by 15%, from $2.00 to $2.30 per share.

What does the dividend increase suggest about Lam Research's (LRCX) financial health?

The 15% dividend increase suggests that Lam Research (LRCX) is in a strong financial position and confident about its future cash flows and business prospects.