KLA Corp. (KLAC) - Get Report boosted its quarterly dividend by 13% to 85 cents a share and said its board authorized the chip-equipment maker to buy back up to $1 billion of its  common stock.

The latest authorization is in addition to the company's existing share repurchase authorization, which had $859 million remaining as of June 30.

The company also affirmed it expects fiscal first-quarter revenue of $1.31 billion to $1.39 billion, and non-GAAP earnings of $2.04 to $2.34 a share.

KLA is hosting an investor day Tuesday in New York.

The stock was up 0.21% to $151.50 in premarket trading Tuesday after closing Monday at a record $151.19. Shares have risen nearly 69% so far in 2019.