NEW YORK (TheStreet) -- KLA-Tencor (KLAC) announced that it was increasing its quarterly dividend to 50 cents per share from 45 cents per share. It's also increasing its share buyback plan by more than 13 million shares at a total value of over $1 billion based on the company's previous closing price of $74.03.
"KLA-Tencor has returned over $2.2 billion to stockholders over the past five fiscal years, and these latest increases in the level of the dividend and the share repurchase authorization reflect management's ongoing commitment to our stockholders as we execute our long-term growth strategies," said CEO Rick Wallace.
KLA-Tencor shares are down -1.1% to $73.22 in early market trading today.
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TheStreet Ratings team rates KLA-TENCOR CORP as a Buy with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate KLA-TENCOR CORP (KLAC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow."