By Colin Kellaher

Lam Research's board has raised the chip equipment maker's quarterly dividend by 16%, to $2.00 from $1.725.

The new payout, equal to $8.00 a year, represents an annual yield of about 1.18% based on Wednesday's closing price of $678.09, up from 1.02%.

The Fremont, Calif., company on Thursday said the increased dividend is payable Oct. 4 to shareholders of record Sept. 13.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 24, 2023 09:44 ET (13:44 GMT)

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