Lam Research Corp (LRCX) will raise its quarterly dividend by 11.1 percent to $0.50 per share. 

The increased dividend will be paid on January 10, 2018 to shareholders of record on December 6, 2017. The new dividend yield for LRCX is 0.9%.

Also, the company is authorized to repurchase up to an additional $2 billion of common stock. "Our $2 billion share repurchase authorization and 11% growth in the quarterly dividend reflect the company’s outstanding performance, strong cash flow generation and our conviction in the exciting opportunities ahead for Lam," stated Martin Anstice, president and chief executive officer of Lam Research. "We remain committed to investing in sustainable growth and augmenting returns through the combination of share repurchases and growing our dividend over time.”

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.