KLA Corporation (KLAC), formerly KLA-Tencor, will raise its quarterly dividend by 16.7 percent to $1.05 per share in 2021. This follows a 5.9 percent to 90 cents per share last announced in August 2020. The semiconductor company has now raised its dividend 12 consecutive years.
The next dividend is payable on September 1, 2021 to KLA shareholders of record as of the close of business on August 16, 2021. A new annualized dividend rate of $4.20 per share yields 1.2% at a stock price of $353. KLA Corporation currently pays approximately $644 million in dividends annually to shareholders.
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.