Applied Materials Announces Increased Cash Dividend and $2 Billion Share Repurchase Authorization
"Applied's strong financial position and operating cash flow enable us to invest in growth opportunities throughout our businesses as well as return cash to stockholders," said Mike Splinter, chairman and chief executive officer. "Today's dividend increase reflects our confidence in the company's near and long-term prospects for growth and profitability. The buyback program provides a flexible means to return excess cash to shareholders."
As of January 31, 2010, Applied Materials had approximately 1.34 billion shares of common stock outstanding.
Forward-Looking Statements. This release contains forward-looking statements, including those relating to Applied's financial position, prospects, cash generation and cash deployment strategies. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: the sustainability of demand for Applied's products, which is subject to many factors, including uncertain global economic and industry conditions, demand for electronic products and semiconductors, and customers' capacity and new technology requirements; Applied's ability to (i) develop, deliver and support a broad range of products and expand its markets, (ii) timely align its cost structure with business conditions, (iii) plan and manage its resources and production capability, including its supply chain, (iv) implement initiatives that enhance global operations and efficiencies, (v) effectively integrate acquired businesses, (vi) obtain and protect intellectual property rights in key technologies, and (vii) attract, motivate and retain key employees; and other risks described in Applied Materials' SEC filings. All forward-looking statements are based on management's estimates, projections and assumptions as of the date hereof and the company undertakes no obligation to update any such statements.
Applied Materials, Inc. is the global leader in Nanomanufacturing Technology(TM) solutions with a broad portfolio of innovative equipment, service and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass. At Applied Materials, we apply nanomanufacturing technology to improve the way people live. Learn more at http://www.appliedmaterials.com.
SOURCE: Applied Materials, Inc.
Applied Materials, Inc.
Howard Clabo, 408-223-5864 (Editorial/Media)
Michael Sullivan, 408-986-7977 (Financial Community)