Microchip Technology Increases Quarterly Cash Dividend 36.2% Year-Over-Year to 41.0 Cents Per Share
03 Agosto 2023 - 5:15PM
(NASDAQ: MCHP) – Microchip Technology Incorporated, a leading
provider of smart, connected, and secure embedded control
solutions, today announced that its Board of Directors declared a
quarterly cash dividend on its common stock of 41.0 cents per
share. The dividend is payable on September 5, 2023, to
stockholders of record on August 22, 2023. Microchip initiated
quarterly cash dividend payments in the third quarter of fiscal
year 2003 and has increased its dividend 78 times since its
inception.
“Microchip’s financial performance in the June 2023 quarter was
in line with expectations, resulting in solid cash generation and
further debt reduction and share repurchases,” said Steve Sanghi,
Executive Chair. “Today, our Board of Directors approved a
year-over-year increase in our dividend of 36.2% to 41.0 cents per
share, up from our August 2022 dividend of 30.1 cents per share.
This represents 84 consecutive quarters of dividend payments for
Microchip and reflects confidence in the cash-generating capability
of our business, as well as our ongoing commitment to returning
capital to our stockholders.”
Cautionary Statement:
The statements contained in this release relating to our
confidence in the cash-generating capability of our business and
our ongoing commitment to returning capital to our stockholders are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that could cause
actual results to differ materially, including, but not limited to
any continued uncertainty, fluctuations or weakness in the U.S. and
world economies (including China) due to rising interest rates,
high inflation or the impact of the COVID-19 pandemic (including
lock-downs in China) which affect our business and the businesses
of our customers and suppliers, actions taken or which may be taken
by the Biden administration or the U.S. Congress, monetary policy,
political, geopolitical, trade or other issues in the U.S. or
internationally (including the Ukraine-Russia military conflict),
actual cash flows generated from and used in the operation of our
business; actual or projected levels of capital expenditures; our
balance of cash and investments; changes in the tax rates that our
stockholders pay on our dividends or other changes in U.S. tax laws
including the Inflation Reduction Act of 2022, the Tax Cut and Jobs
Act of 2017 and any new laws which may be enacted; our available
borrowings under our credit agreement; the impact of any
significant acquisitions or strategic transactions we may
undertake; our ability to realize the expected benefits of our
acquisitions, changes in demand or market acceptance of our
products and the products of our customers and our ability to meet
any continued increases in market demand; the mix of inventory we
hold and our ability to satisfy short-term orders from our
inventory; changes in utilization of our manufacturing capacity and
our ability to effectively manage our production levels and
increase production to meet any continued increases in market
demand; our ability to obtain additional capacity from our wafer
foundries and other suppliers to increase production to meet any
continued increases in market demand; our ability to control the
level of operating expenses relative to our level of revenues;
competitive developments including pricing pressures; the level of
orders that are received and can be shipped in a quarter; changes
or fluctuations in customer order patterns and seasonality; the
costs and outcome of any current or future litigation or other
matters involving our Microsemi acquisition, the Microsemi
business, intellectual property, customers, or other issues; the
impact the CHIPS Act will have on increasing manufacturing capacity
in our industry by providing incentives for us, our competitors and
foundries to construct new wafer manufacturing facilities or expand
existing facilities, the costs and outcome of any current or future
tax audit or investigation regarding our business or the business
of Microsemi; disruptions in our business or the businesses of our
customers or suppliers due to natural disasters (including any
floods in Thailand), terrorist activity, armed conflict, war,
worldwide oil prices and supply, public health concerns (including
COVID-19) or disruptions in the transportation system; and general
economic, industry or political conditions in the United States or
internationally.
For a detailed discussion of these and other risk factors,
please refer to Microchip's filings on Forms 10-K and 10-Q. You can
obtain copies of Forms 10-K and 10-Q and other relevant documents
for free at Microchip’s website (www.microchip.com) or the SEC's
website (www.sec.gov) or from commercial document retrieval
services.
Stockholders of Microchip are cautioned not to place undue
reliance on our forward-looking statements, which speak only as of
the date such statements are made. Microchip does not undertake any
obligation to publicly update any forward-looking statements to
reflect events, circumstances, or new information after this
August 3, 2023 press release or to reflect the occurrence of
unanticipated events.
About Microchip:
Microchip Technology Incorporated is a leading provider of
smart, connected and secure embedded control solutions. Its
easy-to-use development tools and comprehensive product portfolio
enable customers to create optimal designs, which reduce risk while
lowering total system cost and time to market. The company's
solutions serve more than 125,000 customers across the industrial,
automotive, consumer, aerospace and defense, communications and
computing markets. Headquartered in Chandler, Arizona, Microchip
offers outstanding technical support along with dependable delivery
and quality. For more information, visit the Microchip website at
www.microchip.com.
The Microchip logo and name are registered
trademarks of Microchip Technology Incorporated.
INVESTOR RELATIONS CONTACT:J. Eric Bjornholt -- CFO (480)
792-7804
Microchip Technology (NASDAQ:MCHP)
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