KLA approves $6B buyback program and 24% rise in quarterly dividend; affirms FQ4 outlook
KLA Corporation (NASDAQ:KLAC) has authorized to repurchase up to $6B of the company's common stock and expects to transact this share repurchase authorization in the form of an Accelerated Share Repurchase of approximately $3B to be completed over the next 3-6 months, with the remaining amount to be repurchased over the next 12-18 months.

This is in addition to the existing share repurchase authorization, which had $699M remaining as of March 31, 2022.
Buybacks are expected to be funded by a combination of new debt and cash on the company's balance sheet.
The company also boosted quarterly dividend by 24% to $1.30 per share from $1.05 per share.
The company also reaffirmed FQ4 revenue outlook of $2.3B to $2.55B vs. consensus of $2.42B and non-GAAP diluted EPS of $4.93 to $6.03 vs. consensus of $5.48 ahead of its Investor Day event, which will begin at 8:30 a.m. ET and conclude at approximately 12:30 p.m. ET.
CEO comment: "The semiconductor industry has become even more essential to an increased number of industries and geographies and is expected to grow and change in ways that benefit KLA. Today's announcements of a new share repurchase authorization and increase in the quarterly dividend level reflect our long standing focus on productive capital allocation and confidence in our business strategies."
Wall Street Analysts as well as SA quant rating system grades the stock with a Buy rating.
Shares slipped more than 25% on YTD basis.