KLA Authorizes Additional $2B Stock Buyback Plan, Boosts Dividend By 7%
Portfolio Pulse from Lekha Gupta
KLA Corp has announced a dividend increase and a new share repurchase plan. The quarterly dividend per share has been raised to $1.45 from $1.30, marking the 14th consecutive annual dividend increase. The company has also declared a new share repurchase authorization of $2 billion, in addition to the remaining $1.6 billion under the original share repurchase authorization. This brings the total share repurchase authorization to around $3.6 billion as of August 31, 2023.
September 05, 2023 | 12:10 pm
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POSITIVE IMPACT
KLA Corp's announcement of a dividend increase and a new share repurchase plan is likely to be viewed positively by investors. The company's shares are already trading higher in premarket.
The announcement of a dividend increase and a new share repurchase plan indicates the company's confidence in its financial health and future prospects. This is likely to boost investor confidence and could lead to an increase in the company's share price.
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