Lam Research Corporation Announces a 13% Increase in Quarterly Dividend

Rhea-AI Summary

Lam Research Corporation (Nasdaq: LRCX) announced a 13% increase in its quarterly dividend, raising it from $1.15 to $1.30 per share. The payment is scheduled for October 14, 2020, to shareholders on record by September 30, 2020. This move aligns with the company's commitment to disciplined annual dividend growth. Lam Research, based in Fremont, California, is a key supplier to the semiconductor industry, contributing to innovations in wafer fabrication equipment.

Positive

• Quarterly dividend increased by 13% from $1.15 to $1.30 per share.
• Dividend payment reflects Lam Research's commitment to disciplined annual growth.

Negative

• Risks associated with the COVID-19 pandemic may affect business and financial condition.
• Potential uncertainties in the semiconductor industry's market dynamics may impact future dividends.

FREMONT, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a $0.15 or 13% increase in its quarterly dividend from $1.15 to $1.30 per share of common stock. This increase is consistent with the intent for disciplined annual dividend growth. The dividend payment will be made October 14, 2020 to holders of record on September 30, 2020.  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. As a trusted, collaborative partner to the world’s leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. 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-F)

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 increase dividends over time, or the timing or frequency of dividend increases, our engineering capabilities, our technology leadership, our commitment to customer success, and our continued ability to accelerate innovation and enhance device performance. Some factors that may affect these forward–looking statements include: the severity, magnitude and duration of the COVID–19 pandemic (and the related governmental, public health, business and community responses to it), and their impacts on our business, results of operations and financial condition, are evolving and are highly uncertain and unpredictable; 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; and widespread outbreaks of illness 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 28, 2020. 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###

 

FAQ

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

The new dividend amount is $1.30 per share.

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

The next dividend payment will be made on October 14, 2020.

What is the record date for Lam Research (LRCX) dividends?

The record date for the dividend is September 30, 2020.

Is the dividend increase for Lam Research (LRCX) sustainable?

While the increase reflects a commitment to growth, future dividends are subject to Board approval and market conditions.