Kulicke & Soffa Increases Quarterly Dividend
Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) has proudly declared an increase in its quarterly dividend to $0.205 per share of common stock. This marks the fifth consecutive annual dividend raise, affirming the company's commitment to enhancing shareholder value.
Details of the Dividend Raise
The newly announced dividend reflects a modest increase of $0.005 over the previous distribution. This adjustment signifies Kulicke & Soffa's ongoing dedication to delivering returns to investors. Shareholders can expect to receive this dividend in January.
Expansion of Share Repurchase Program
In tandem with the dividend increase, Kulicke & Soffa is ramping up its shareholder return strategy with a new share repurchase program worth $300 million, authorized by the Board of Directors. This initiative is designed to be executed following the completion of the existing $800 million repurchase program.
Completion Timeline of the Existing Program
The current share repurchase program is nearing completion and is projected to conclude during the first quarter of fiscal year 2025. As of now, approximately $30.3 million remains authorized for repurchases within this program, which was originally announced in 2017.
Cumulative Share Repurchases Achieved
Since the introduction of its initial repurchase program back in 2014, Kulicke & Soffa has successfully acquired a total of 30.2 million shares at an average price of about $28.75 per share. This significant effort showcases their commitment to optimizing shareholder value and market presence.
About Kulicke & Soffa
Kulicke & Soffa, founded in 1951, is renowned for its innovative solutions in semiconductor and electronics assembly. The company continues to evolve, supporting diverse markets such as automotive, communications, and energy storage, among others. Their continuous commitment to technological transitions positions them well for future growth.
Contacts for Further Information
For media inquiries, please reach out to Marilyn Sim, Public Relations, at +65-6880-9309. For finance-related questions, Joseph Elgindy can be contacted at +1-215-784-7500.
Frequently Asked Questions
What is the new dividend amount declared by Kulicke & Soffa?
The company has increased its quarterly dividend to $0.205 per share.
How long has Kulicke & Soffa raised its annual dividend?
This is the fifth consecutive annual dividend increase for the company.
What is the total value of the new share repurchase program?
Kulicke & Soffa's new share repurchase program is worth $300 million.
When is the existing share repurchase program expected to complete?
The existing program is anticipated to conclude in the first quarter of fiscal year 2025.
How many shares has Kulicke & Soffa repurchased in total?
As of now, Kulicke & Soffa has repurchased 30.2 million shares since the start of their repurchase programs.
