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Applied Materials Announces New $2 Billion Share Repurchase Program

Also approves a quarterly cash dividend of $0.10 per share payable on the company’s common stock.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Applied Materials, Inc. announced that its Board of Directors has approved a new $2 billion share repurchase program. This follows the completion of the $3 billion share repurchase program originally approved by the Board on April 26, 2015.
 
The Board of Directors also has approved a quarterly cash dividend of $0.10 per share payable on the company’s common stock. The dividend is payable on Sept. 15, 2016 to shareholders of record as of Aug. 25, 2016.
 
“We are confident in our ability to drive profitable growth as our strengths in materials engineering enable critical technology inflections in our markets,” said Robert Halliday, SVP and CFO. “Our new $2 billion share repurchase program and the dividend demonstrate Applied’s ongoing commitment to deliver attractive cash returns to shareholders.”
 
Applied Materials had approximately 1.1 billion shares of common stock outstanding as of its most recent fiscal quarter end.

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