KLA Corporation (KLAC), formerly KLA-Tencor, will raise its quarterly dividend by 5.9 percent to 90 cents per share in 2020. This comes after a 13.3 percent hike to $0.85 per share in 2019. The semiconductor company has now raised its dividend 11 consecutive years.

The next dividend is payable on September 1, 2020 to KLA shareholders of record as of the close of business on August 17, 2020. A new annualized dividend rate of $3.60 per share yields 1.8% at a stock price of $200. On July 23, 2020 fellow semiconductor company Skyworks Solutions hiked its quarterly dividend by 13.6 percent.

KLA Corporation currently pays approximately $564 million in dividends annually to shareholders. At a stock price of $200 the stock price is up 12.8 percent year-to-date. The company had raised its dividend by double digits in each of the previous two calendar years wiht a 13.3 percent hike announced in 2019 and a 27.1 percent boost in 2018. The biggest dividend hike was announced by in 2010 (+66.7 percent) by the company known as KLA-Tencor at the time.

KLA Corporation, formerly KLA-Tencor Corporation, is a supplier of process control and yield management solutions for the semiconductor and related nanoelectronics industries. The company's products are also used in a number of other high technology industries, including the packaging, light emitting diode (“LED”), power device, compound semiconductor, and data storage industries, as well as general materials research. KLAC was founded in 1997 through the merger of KLA Instruments and Tencor Instruments, two long-time leaders in the semiconductor equipment industry that began operations in 1975 and 1976, respectively. In 2019 the company changed its name from KLA-Tencor to KLA Corporation.