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New Dividend: 40 cents quarterly (per share)
Dividend Percent Increase: 14.29%
Current Yield: 3.51%
Industry headwinds have taken their toll on the semiconductor industry this year, particularly this week thanks to a number of downward revisions at a handful of prominent chipmakers. And semiconductor manufacturing supplier
KLA-Tenor (KLAC - Get Report) has been no exception thanks to a 5.6% decline in price since the first trading day of January. The firm is trying to tack on performance this week with Tuesday's 14.29% dividend hike, a move that brings KLAC's quarterly dividend payout to 40 cents per share.
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With revenue scraping up against pre-recession highs this year, KLAC has made some big strides towards regaining its stride after the financial crisis took the wind out of the semiconductor industry's sails early on. Because KLA-Tenor supplies process management systems for chipmakers, it's less susceptible to headwinds than its own clients. After all, KLAC's offerings are designed to help improve efficiency and reduce excess costs, something factories are willing to spend on even when times are tough.
A hefty yield makes KLAC a solid core income holding when some of the negative sentiment comes off of the semi industry.
As of the most recently reported quarter, KLA-Tencor was one of
Ray Dalio's Bridgewater Associates holdings.