Applied Materials Increases Cash Dividend by 25%

Applied Materials, Inc.’s Board of Directors has approved a 25% increase in the quarterly cash dividend from $0.32 to $0.40 per share. The dividend is payable on June 13, 2024 to shareholders of record as of May 23, 2024. The announcement marks the seventh consecutive year that Applied has raised its dividend.

“Our latest dividend increase reflects our confidence in Applied Materials’ ability to generate profitable growth and strong free cash flow,” said Brice Hill, SVP and CFO. “We believe Applied can continue to outperform the semiconductor equipment market in the years ahead, and we expect our services business to deliver double-digit growth and more than enough operating profit to support a growing dividend.”