CMC Materials, formerly Cabot Micro (CCMP), will raise its quarterly dividend by 4.5 percent to 46 cents per share in 2021. This follows a dividend hike of 4.8 percent to $0.44 per share announced in 2020. The semiconductor industry supplier has now raised its dividend five consecutive years.
The next dividend will be payable on or about April 23, 2021 to shareholders of record at the close of business on March 23, 2021. The new annual rate of $1.84 per share yields 1.1% at a stock price of $174 for CCMP. If we include this new dividend hike the company will pay its shareholders an estimated annual dividend of $54 million.
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. Cabot Microelectronics Corporation was incorporated in 1999 and has paid a dividend every year since 2016.