Press release
KLA Corporation Hosts Investor Day; Announces $6 Billion Share Repurchase Program and 24% Increase to Quarterly Dividend; Affirms June 2022 Guidance
Announces new $6 billion Share Repurchase Authorization, including approximately $3 billion Accelerated Share Repurchase (ASR) to be completed over the next
About this update from Kla Corporation
[{"type":"text","content":"Announces new $6 billion Share Repurchase Authorization, including approximately $3 billion Accelerated Share Repurchase (ASR) to be completed over the next 3-6 months, with the remaining amount to be repurchased over the next 12-18 months, subject to market conditions.Announces a 24% increase in the quarterly dividend level to $1.30 per share from $1.05, the 13th consecutive annual dividend increase for KLA. Since inception in 2006, KLA has grown the quarterly dividend level at an approximately 15% compounded annual growth rate.Affirms current June 2022 quarter guidance, including revenue of $2.3 billion to $2.55 billion, and non-GAAP diluted earnings per share attributable to KLA of $4.93 to $6.03.MILPITAS, Calif., June 16, 2022 /PRNewswire/ -- KLA Corporation (NASDAQ: KLAC), will hold its 2022 Investor Day today in New York City with presentations by Rick Wallace, president and chief executive officer, Bren Higgins, executive vice president and chief financial officer, and other senior executives of the Company. A live stream of the event will begin at 8:30 a.m. ET, and conclude at approximately 12:30 p.m. ET. A link to the live stream and presentation materials can be found at ir.kla.com.\nLogo: https://mma.prnewswire.com/media/806571/KLA_Corporation_Logo.jpg \nManagement will present KLA's strategies to deliver sustainable outperformance guided by the KLA Operating Model, including in-depth reviews of the Semi Process Control, Electronics, Packaging and Components (EPC), and Services businesses. The Company will also introduce its new 2026 Target Model.\nIn addition, the Company is announcing authorization from the Board of Directors to repurchase up to $6 billion of the Company's common stock. Management expects to transact this share repurchase authorization in the form of an Accelerated Share Repurchase of approximately $3 billion to be completed over the next 3-6 months, with the remaining amount to be repurchased over the next 12-18 months. This is in addition to the existing share repurchase authorization, which had $699 million remaining as of March 31, 2022. Share repurchases are expected to be funded by a combination of new debt and cash on the Company's balance sheet. Repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions, ac...