Press release
Microchip Technology Declares Quarterly Cash Dividend of 36.85 Cents Per Share
CHANDLER, Ariz., Nov. 05, 2020 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure
About this update from Microchip Technology Incorporated
[{"type":"text","content":"CHANDLER, Ariz., Nov. 05, 2020 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) – Microchip Technology Incorporated, a leading provider of smart, connected and secure embedded control solutions, today announced that its Board of Directors has declared a quarterly cash dividend on its common stock of 36.85 cents per share. The dividend is payable on December 4, 2020 to stockholders of record on November 20, 2020. Microchip initiated quarterly cash dividend payments in the third quarter of fiscal year 2003 and has increased its dividend 65 times since its inception.\n “Microchip’s financial performance in the September 2020 quarter was strong given the uncertain economic conditions driven by the COVID-19 pandemic,” said Steve Sanghi, Chief Executive Officer. “Our Board is pleased to declare an increase in our quarterly dividend to a record 36.85 cents per share, which continues to reflect confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning value to our stockholders.” Cautionary Statement: The statements contained in this release relating to the uncertain economic conditions, the cash-generating capability of our business and our ongoing commitment to returning value to our stockholders are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involves risks and uncertainties that could cause actual results to differ materially, including, but not limited to: uncertainties related to the impact of the COVID-19 pandemic on the economy, our business and the business of our customers and suppliers, actual cash flows generated from and used in the operation of our business; actual or projected levels of capital expenditures; our balance of cash and investments; changes in the tax rates that our stockholders pay on our dividends or other changes in U.S. tax laws including the Tax Cut and Jobs Act of 2017; our available borrowings under our credit agreement; the impact of any significant acquisitions we may make; our ability to realize the expected benefits of our acquisitions, changes in demand or market acceptance of our products and the products of our customers; the mix of inventory we hold and our ability to satisfy short- term orders from our inventory; changes in utilization of our manufacturing cap...