Lam Research Corp (LRCX) will raise its quarterly dividend by 4.5 percent to $1.15 per share in 2019. This follows a 120.0 percent dividend hike by the semiconductor company last year.

The next dividend will be paid on October 16, 2019 to holders of record on October 1, 2019. A new annual rate of $4.60 per share yields 2.2% at a stock price of $210.

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.