Lam Research Corporation Announces a 15% Increase in Quarterly Dividend

Rhea-AI Summary

Lam Research Corporation (Nasdaq: LRCX) has announced a 15% increase in its quarterly dividend from $1.30 to $1.50 per share. This decision reflects the company’s commitment to disciplined annual dividend growth. The new dividend will be paid on October 13, 2021, to shareholders on record as of September 28, 2021. Lam Research is a leading provider of wafer fabrication equipment and services for the semiconductor industry, playing a crucial role in the production of advanced chips worldwide.

Positive

• 15% increase in quarterly dividend from $1.30 to $1.50 per share.
• Demonstrates commitment to disciplined annual dividend growth.

Negative

• None.

FREMONT, Calif., Aug. 26, 2021 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors has approved a $0.20, or 15% increase in its quarterly dividend, from $1.30 to $1.50 per share of common stock. This increase is consistent with the intent for disciplined annual dividend growth. The dividend payment will be made October 13, 2021 to holders of record on September 28, 2021. 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-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 or declare dividends. 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; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; the actions of our customers and competitors may be inconsistent with our expectations; trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; 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 27, 2021. 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 LRCX?

The new dividend amount for Lam Research Corporation (LRCX) is $1.50 per share.

When is the dividend payment date for LRCX?

The dividend payment date for LRCX is October 13, 2021.

What is the record date for the LRCX dividend?

The record date for the LRCX dividend is September 28, 2021.

How frequently does Lam Research Corporation pay dividends?

Lam Research Corporation typically pays dividends quarterly.

What factors could affect future dividend payments for LRCX?

Future dividend payments for LRCX are subject to review and approval by the Board of Directors and could be influenced by business conditions and financial performance.