Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
12 May 2022 - 06:59AM
Lam Research Corporation (Nasdaq: LRCX) today announced that its
Board of Directors approved a $5 billion share repurchase
authorization and a quarterly dividend of $1.50 per share of common
stock.
The company is authorized to repurchase up to $5 billion of
common stock; this authorization supplements the remaining balances
from any prior authorizations. Repurchases may be made through both
public market and private transactions and may include the use of
derivative contracts and structured share repurchase agreements.
This repurchase program has no termination date and may be
suspended or discontinued at any time.
The dividend payment will be made July 6, 2022, to holders
of record on June 15, 2022. Future dividend payments are
subject to review and approval by the Board of Directors.
About Lam Research:
Lam Research Corporation is a global supplier of innovative
wafer fabrication equipment and services to the semiconductor
industry. Lam’s equipment and services allow customers to build
smaller and better performing devices. In fact, today, nearly every
advanced chip is built with Lam technology. We combine superior
systems engineering, technology leadership, and a strong
values-based culture, with an unwavering commitment to our
customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company
headquartered in Fremont, Calif., with operations around the globe.
Learn more at www.lamresearch.com. (LRCX-F)
Caution Regarding Forward-Looking
Statements:
Statements made in this press release that are not of historical
fact are forward-looking statements and are subject to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements relate to, but are not
limited to, our plans to repurchase shares, including the plan or
ability to fund share repurchase activities; and our plans to make
dividend payments or declare dividends. Some factors that may
affect these forward-looking statements include: supply chain
disruptions have limited and are expected to limit our ability to
meet demand for our products; supply chain cost increases and other
inflationary pressures have impacted and are expected to continue
to impact our profitability; manufacturing capacity constraints may
limit our ability to manufacture and sell our products; trade
regulations, export controls, trade disputes, and other
geopolitical tensions may inhibit our ability to sell our products;
business, political and/or regulatory conditions in the consumer
electronics industry, the semiconductor industry and the overall
economy may deteriorate or change; the actions of our customers and
competitors may be inconsistent with our expectations; the
severity, magnitude and duration of the COVID-19 pandemic (and the
related governmental, public health, business and community
responses to it), and their impacts on our business, results of
operations and financial condition, are evolving and are highly
uncertain and unpredictable; and widespread outbreaks of illness
may impact our operations and revenue in affected areas; as well as
the other risks and uncertainties that are described in the
documents filed or furnished by us with the Securities and Exchange
Commission, including specifically the Risk Factors described in
our annual report on Form 10-K for the fiscal year ended June 27,
2021, and quarterly report on Form 10-Q for the quarter ended March
27, 2022. These uncertainties and changes could materially affect
the forward-looking statements and cause actual results to vary
from expectations in a material way. The Company undertakes no
obligation to update the information or statements made in this
press release.
Company Contacts:Ram GaneshInvestor
Relations(510) 572-1615Email:
investor.relations@lamresearch.com Source: Lam Research
Corporation###
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