KLA-Tencor (KLAC) said its board has approved a 14% increase in its quarterly cash dividend.

The Milpitas, Calif.-based maker of process control and yield management solutions for the chip market upped the payout on Tuesday by five cents, to 35 cents from 40 cents a year ago.

The change is expected to take place with its dividend to be declared in August.

The increase marks KLA-Tencor’s fourth since April 2005.

The company’s chief executive, Rick Wallace, said the boost reflects management’s confidence in its long-term strategies and efforts to “reward stockholders for their investment.”

Follow Jennifer Booton on Twitter at @Jbooton