Cabot Micro (CCMP) will raise its quarterly dividend by 100 percent to $0.40 per share in the first quarter of 2018. The new dividend yield for CCMP is 1.5%.

The dividend will be payable on or about April 30, 2018 to shareholders of record at the close of business on March 23, 2018.

David Li, President and CEO of Cabot Microelectronics, stated, “Our track record of profitability and strong cash generation has enabled us to execute a balanced capital deployment strategy over the years, including organic investments, dividends, acquisitions and share repurchases. We are pleased to now significantly increase – by doubling – our regular quarterly cash dividend, and announce our intention to distribute at least 50 percent of our ongoing annual free cash flow to our shareholders through a combination of cash dividends and share repurchases. We believe this clearly demonstrates our confidence in our future performance and cash generation capabilities, as well as our continued commitment to delivering ongoing value to our shareholders.

Cabot Microelectronics Corporation is a supplier of CMP polishing slurries and a CMP pad supplier to the semiconductor industry. The Company develops, produces and sells CMP slurries for polishing conducting and insulating materials used in IC devices, and also for polishing the disk substrates and magnetic heads used in hard disk drives.