Press release
Lam Research Corporation Announces $5 Billion Share Repurchase Authorization and Declares Quarterly Dividend
FREMONT, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced that its Board of Directors approved a $5 billion
About this update from Lam Research Corporation
[{"type":"text","content":"FREMONT, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- 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 ...