MILPITAS, Calif., Sept. 3,
2024 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC)
is announcing a 17% increase in the quarterly dividend level to
$1.70 per share from $1.45 per share beginning with the quarterly
dividend expected to be declared in November
2024, the fifteenth consecutive annual increase in the
quarterly dividend level for KLA. The declaration and payment of
future dividends is subject to the Board's discretion and will
depend on financial and legal requirements and other
considerations.
"This 15th consecutive annual increase in KLA's
quarterly dividend represents our consistent commitment to
delivering shareholder value by leveraging the KLA Operating Model
to execute on our growth strategies, including assertive capital
allocation. Our focus on product differentiation, growing
profitability and free cash flow generation are fundamental to KLA
as we remain on track to achieve our 2026 financial targets," said
Rick Wallace, president and CEO,
KLA Corporation.
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About KLA:
KLA Corporation ("KLA") develops industry-leading equipment and
services that enable innovation throughout the electronics
industry. We provide advanced process control and process-enabling
solutions for manufacturing wafers and reticles, integrated
circuits, packaging and printed circuit boards. In close
collaboration with leading customers across the globe, our expert
teams of physicists, engineers, data scientists and problem-solvers
design solutions that move the world forward. Investors and
others should note that KLA announces material financial
information including SEC filings, press releases, public earnings
calls and conference webcasts using an investor relations website
(ir.kla.com). Additional information may be found at:
www.kla.com.
Note Regarding Forward-Looking Statements:
Statements in this press release other than historical facts,
such as statements pertaining to the increase in our dividend level
and the timing of the first dividend declared at our new dividend
level, are forward-looking statements and are subject to the Safe
Harbor provisions created by the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on
current information and expectations and involve a number of risks
and uncertainties. Actual results may differ materially from those
projected in such statements due to various factors, including, but
not limited to: our vulnerability to a weakening in the condition
of the financial markets and the global economy; risks related to
our international operations; evolving Bureau of Industry and
Security of the U.S. Department of Commerce rules and regulations
and their impact on our ability to sell products to and provide
services to certain customers in China; costly intellectual property disputes
that could result in our inability to sell or use the challenged
technology; risks related to the legal, regulatory and tax
environments in which we conduct our business; increasing attention
to ESG matters and the resulting costs, risks and impact on our
business; unexpected delays, difficulties and expenses in executing
against our environmental, climate, diversity and inclusion or
other ESG targets, goals and commitments; our ability to attract,
retain and motivate key personnel; our vulnerability to disruptions
and delays at our third party service providers; cybersecurity
threats, cyber incidents affecting our and our business partners'
systems and networks; our inability to access critical information
in a timely manner due to system failures; our ability to identify
suitable acquisition targets and successfully integrate and manage
acquired businesses; climate change, earthquake, flood or other
natural catastrophic events, public health crises such as the
COVID-19 pandemic or terrorism and the adverse impact on our
business operations; the war between Ukraine and Russia, and the war between Israel and Hamas, and the significant military
activity in that region; lack of insurance for losses and
interruptions caused by terrorists and acts of war, and our
self-insurance of certain risks including earthquake risk; risks
related to fluctuations in foreign currency exchange rates; risks
related to fluctuations in interest rates and the market values of
our portfolio investments; risks related to tax and regulatory
compliance audits; any change in taxation rules or practices and
our effective tax rate; compliance costs with federal securities
laws, rules, regulations, NASDAQ requirements, and evolving
accounting standards and practices; ongoing changes in the
technology industry, and the semiconductor industry in particular,
including future growth rates, pricing trends in end-markets, or
changes in customer capital spending patterns; our vulnerability to
a highly concentrated customer base; the cyclicality of the
industries in which we operate; our ability to timely develop new
technologies and products that successfully address changes in the
industry; risks related to artificial intelligence; our ability to
maintain our technology advantage and protect proprietary rights;
our ability to compete in the industry; availability and cost of
the materials and parts used in the production of our products; our
ability to operate our business in accordance with our business
plan; risks related to our debt and leveraged capital structure; we
may not be able to declare cash dividends at all or in any
particular amount; liability to our customers under indemnification
provisions if our products fail to operate properly or contain
defects or our customers are sued by third parties due to our
products; our government funding for R&D is subject to audit,
and potential termination or penalties; we may incur significant
restructuring charges or other asset impairment charges or
inventory write offs; risks related to receivables factoring
arrangements and compliance risk of certain settlement agreements
with the government; and risks related to the Court of Chancery of
the State of Delaware being the
sole and exclusive forum for certain actions and proceedings. For
other factors that may cause actual results to differ materially
from those projected and anticipated in forward-looking statements
in this press release, please refer to KLA's Annual Report on Form
10-K for the year ended June 30,
2024, and other subsequent filings with the Securities and
Exchange Commission (including, but not limited to, the risk
factors described therein). KLA assumes no obligation to, and does
not currently intend to, update these forward-looking
statements.
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SOURCE KLA Corporation