SANTA CLARA — Applied Materials announced that its Board of Directors has approved a quarterly cash dividend of $0.40 per share payable on the company’s common stock. The dividend is payable on Sept. 12, 2024 to shareholders of record as of Aug. 22, 2024.
The cash dividend is a key component of Applied’s capital allocation strategy. In March 2023, Applied announced a 23-percent increase in the quarterly dividend, and in March 2024, Applied announced a 25-percent increase from $0.32 to $0.40 per share. Applied’s dividend per share has increased in each of the past seven years and grown at a compound rate of 15 percent over the past 10 years.
In the second quarter of fiscal 2024, Applied distributed $1.09 billion to shareholders through dividends and share repurchases. The company had approximately $11.2 billion remaining in its share buyback authorization at the end of the period.
