MILPITAS (dpa-AFX) - KLA Corporation (KLAC), a semiconductor manufacturing firm, announced on Tuesday that it has been authorized to repurchase up to $2 billion of its shares. This is in addition to the existing $1.6 billion remaining as of August 31.
In addition, the company has declared an increase to the quarterly dividend to $1.45 per share from $1.30 per share.
Rick Wallace, CEO of KLA, said: 'Today's announcement is consistent with KLA's long-standing confidence in our business model focused on product differentiation, free cash flow generation, and assertive capital allocation. It also reflects optimism in our growth strategies and continued progress towards our 2026 financial targets.'
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