Micron Technology Inc. (MU) will start paying a quarterly dividend to shareholders. The first dividend is 10 cents per share quarterly. A 40 cent per share annual dividend rate will yield 0.5% at a stock price of $80 for MU.

Micron Technology today announced that its Board of Directors has declared a quarterly dividend of $0.10 per share of Micron’s outstanding Common Stock. The initial quarterly dividend will be payable in cash on October 18, 2021, to shareholders of record as of the close of business on October 1, 2021.

“Micron’s remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet. This transformation creates the opportunity today to enhance the value of our capital returns program,” said Micron Technology President and CEO Sanjay Mehrotra. “Initiating a common stock dividend reflects our confidence in Micron’s future and our commitment to creating compelling value for shareholders.”

The dividend augments the share repurchase plan that Micron announced in May 2018.Through its most recently reported quarterly results, Micron has returned approximately $4 billion in share repurchases and the cash settlement of convertible securities, retiring 90 million shares at an average price of $42.

Micron Technology, Inc. is a semiconductor company offering memory and storage solutions. Micron offers memory and storage technologies, including dynamic random-access memory (DRAM), negative-AND (NAND), three-dimensional (3D) XPoint memory, and NOR. Micron brands include Micron and Crucial. Micron initiated a quarterly dividend in 2021.