On August 24, 2023, Lam Research Corp (LRCX) announced a substantial 15.9% dividend boost to $2.00 per share quarterly. This builds on last year's 15.0% dividend raise, maintaining a 9-year streak of consecutive dividend growth since the company's inaugural dividend in 2014.

This increase aligns with the company's commitment to steady yearly dividend expansion. Dividends will be distributed on October 4, 2023, to shareholders of record as of September 13, 2023. Upcoming dividend disbursements are subject to Board of Directors evaluation and approval. LRCX's new annual dividend of $8.00 per share presents a 1.2% yield based on a stock price of $655. The next ex-dividend date is September 12, 2023.

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.