Applied Materials announces increased cash dividend and $2 billion share repurchase authorization

SANTA CLARA, USA: Applied Materials Inc. announced that its Board of Directors has approved a 17 percent increase in the quarterly cash dividend to $0.07 per share, payable on June 16, 2010 to stockholders of record as of May 26, 2010.

Previously, the quarterly cash dividend was $0.06 per share. Applied's Board also approved a new stock repurchase program authorizing up to $2 billion in repurchases over the next three years ending in March 2013.

“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 CEO. ”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.