Lam Research Corp. on March 6 said that it intends to return at least 50% of free cash flow to its stockholders through dividends and share repurchases over the next five years.
The capital return program includes a 120% rise in Lam's quarterly dividend to $1.10 per share, beginning with the dividend to be declared in the June quarter. The dividend would return approximately $702 million to stockholders on an annualized basis.
In addition, the semiconductor equipment maker will increase its existing stock buyback plan, which dates to November 2017, by an additional $2 billion, boosting the repurchase authorization to a total of $4 billion.
