Press Release: Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
DOW JONES & COMPANY, INC. 4:07 PM ET 11/5/2020
Symbol Last Price Change | LRCX | 399.71 | +19.37 (+5.0928%) | | QUOTES AS OF 04:00:00 PM ET 11/05/2020 |
Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
FREMONT, Calif., Nov. 05, 2020 (GLOBE NEWSWIRE) -- Lam Research Corporation(LRCX) today announced that its Board of Directors approved a $5 billion share repurchase authorization and a quarterly dividend of $1.30 per share of common stock.
The company is authorized to repurchase up to $5 billion of common stock; this authorization supplements the remaining balances from any prior authorizations. Repurchases may be made through both public market and private transactions and may include the use of derivative contracts and structured share repurchase agreements. This repurchase program has no termination date and may be suspended or discontinued at any time.
The dividend payment will be made January 6, 2021 to holders of record on December 9, 2020. Future dividend payments are subject to review and approval by the Board of Directors.
About Lam Research(LRCX):
Lam Research Corporation (LRCX) 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(LRCX) is a FORTUNE 500(R) company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-F) |
