Applied Materials Raises Dividend, Increases Buybacks. Stock Climbs.

Applied Materials

the largest chip-equipment maker in the world, announced Monday a 23.1% lift in its quarterly cash dividend, from 26 cents to 32 cents per share. The dividend is payable on June 15 to shareholders of record as of May 25. 

The board of directors also announced a new share repurchase authorization, allowing the company to buy back $10 billion additional shares. “This supplements the previous authorization, which had $4.7 billion remaining at the end of the first quarter of fiscal 2023,” according to the release.