Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
November 05 2020 - 3:05PM
Lam Research Corporation (Nasdaq: 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:
Lam Research Corporation 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 (Nasdaq: LRCX) is a
FORTUNE 500® company headquartered in Fremont, Calif., with
operations around the globe. Learn more at www.lamresearch.com.
(LRCX-F)
Caution Regarding Forward-Looking
Statements:
Statements made in this press release that are not of historical
fact are forward-looking statements and are subject to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements relate to, but are not
limited to, our plans to make dividend payments, declare dividends,
or increase dividends over time, or the timing or frequency of
dividend increases, our engineering capabilities, our technology
leadership, our commitment to customer success, and our continued
ability to accelerate innovation and enhance device performance.
Some factors that may affect these forward–looking statements
include: the severity, magnitude and duration of the COVID–19
pandemic (and the related governmental, public health, business and
community responses to it), and their impacts on our business,
results of operations and financial condition, are evolving and are
highly uncertain and unpredictable; business, political and/or
regulatory conditions in the consumer electronics industry, the
semiconductor industry and the overall economy may deteriorate or
change; the actions of our customers and competitors may be
inconsistent with our expectations; and widespread outbreaks of
illness may impact our operations and revenue in affected areas; as
well as the other risks and uncertainties that are described in the
documents filed or furnished by us with the Securities and Exchange
Commission, including specifically the Risk Factors described in
our annual report on Form 10-K for the fiscal year ended June 28,
2020 and quarterly report on Form 10-Q for the quarter ended
September 27, 2020. These uncertainties and changes could
materially affect the forward-looking statements and cause actual
results to vary from expectations in a material way. The Company
undertakes no obligation to update the information or statements
made in this press release.
Company Contacts:Ram GaneshInvestor
Relations(510) 572 – 1615Email:
investor.relations@lamresearch.com
Source: Lam Research Corporation###
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