KLA-Tencor (NASDAQ: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.
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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.”