Lam Research Corp. (LRCX) will raise its quarterly dividend by 66.7 percent from $0.18 to $0.30 per share in the second quarter of 2015.

"Today's dividend announcement reflects management's confidence in Lam Research's sustained market outperformance and strong cash flow generation," said Martin Anstice, President and Chief Executive Officer. "This meaningful increase in dividend level, combined with our share repurchase program, demonstrates our commitment to consistently return value to shareholders."

Lam Research Corporation is a supplier of wafer fabrication equipment and services to the semiconductor industry. The company's products are used in a variety of electronic products, including mobile phones, personal computers, servers, wearables, automotive devices, storage devices, and networking equipment.  Lam's customer base includes leading semiconductor memory, foundry, and integrated device manufacturers that make products such as non-volatile memory, DRAM memory, and logic devices. Incorporated in 1980, Lam Research is headquartered in Fremont, California. The company has a network of facilities throughout Asia, Europe, and the United States. Lam Research initiated its dividend in 2014, and has increased it annually ever since.