Universal Display Corporation Increases Quarterly Cash Dividend to $0.20 per Share

Rhea-AI Summary

Universal Display Corporation (Nasdaq: OLED) has announced an increase in its first quarter cash dividend to $0.20 per share, up from $0.15 in the prior quarter. This dividend will be paid on March 31, 2021 to shareholders of record on March 16, 2021. The raise in the dividend reflects the company's expected ongoing cash flow generation and its commitment to returning capital to shareholders. Future dividends remain subject to Board approval.

Positive

• Increased dividend amount to $0.20 per share from $0.15, indicating strong cash flow.
• Commitment to returning capital to shareholders reinforces investor confidence.

Negative

• None.

Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED^® technology and materials, today announced that its Board of Directors approved an increased first quarter cash dividend of $0.20 per share on the Company's common stock, up from the previous quarter’s dividend of $0.15 per share. The dividend is payable on March 31, 2021 to shareholders of record on March 16, 2021. The dividend reflects our expected continued cash flow generation, and commitment to return capital to our shareholders. Future dividends will be subject to Board approval.

About Universal Display Corporation

Universal Display Corporation (Nasdaq: OLED) is a leader in the research, development and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications. Founded in 1994, the Company currently owns, exclusively licenses or has the sole right to sublicense more than 5,000 patents issued and pending worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of low power and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training.

Headquartered in Ewing, New Jersey, with international offices in China, Hong Kong, Ireland, Japan, South Korea and Taiwan, and wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display works and partners with a network of world-class organizations. To learn more about Universal Display Corporation, please visit https://oled.com/.

Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks.

All statements in this document that are not historical, such as those relating to the impact of the COVID-19 pandemic on the Company and otherwise, the Company’s technologies and potential applications of those technologies, the Company’s expected results and future declaration of dividends, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the sections entitled “Risk Factors” in Universal Display Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.

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FAQ

What is the new dividend amount for Universal Display Corporation (OLED)?

The new dividend amount is $0.20 per share, up from $0.15.

When will the dividend be paid to shareholders of OLED?

The dividend will be paid on March 31, 2021.

What is the record date for the upcoming dividend payment for OLED?

The record date for the dividend payment is March 16, 2021.

Is the dividend increase for OLED sustainable?

The increase reflects expected continued cash flow generation, though future dividends are subject to Board approval.