Kulicke & Soffa Board Approves $300M Stock Buyback, Increases Dividend

Dow Jones11-14

By Connor Hart

The board of Kulicke & Soffa Industries authorized a $300 million share-repurchase program.

The semiconductor company said Wednesday that the new program will begin following completion of its existing $800 million program, which at the end of its fiscal 2024 had $30.3 million remaining. That program is expected to be completed by the end of the company's fiscal first quarter, ending Dec. 28.

The company also increased its quarterly dividend to 20.5 cents, up from 20 cents.

The new payout, equal to 82 cents a year, represents an annual yield of about 1.7% based on Wednesday's closing price of $47.05. It will be paid Jan. 7 to shareholders of record as of Dec. 19.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 13, 2024 17:26 ET (22:26 GMT)

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