Aurora, IL, March 3, 2021 (GLOBE NEWSWIRE) – CMC Materials, Inc. (Nasdaq: CCMP) announced today that its board of directors is offering a quarterly cash dividend of $ 0.46 per share ($ 1.84 per share on an annual basis) has decided. on the company’s common stock, an increase of approximately five percent from the last quarterly dividend, last paid on or about January 29, 2021. The dividend will be paid on or about April 23, 2021 to the close of business on March 23, 2021.
The Board of Directors also approved an increase in the company’s existing share buyback program from approximately $ 27 million, which was still available as of December 31, 2020, to $ 150 million.
Over the past 17 years, the company has distributed nearly $ 1 billion to its shareholders, approximately $ 470 million through share buyback programs, approximately $ 170 million through quarterly cash dividends, and nearly $ 350 million in 2012 through a leveraged one Recapitalization with a special cash dividend.
Future declarations and distributions of dividends and share buybacks are subject to the discretion and determination of the Board of Directors and management of the Company.
The company’s annual general meeting will be held on Wednesday, March 3, 2021 at 8:00 a.m. (9:00 a.m. Eastern Time) as a virtual meeting. To attend the virtual meeting, visit www.virtualshareholdermeeting.com/CCMP2021. A webcast recording of the annual meeting will be available through March 3, 2022.
ABOUT CMC MATERIALS, INC.
CMC Materials, Inc., headquartered in Aurora, Illinois, is a leading global supplier of consumables, primarily to semiconductor manufacturers. The company’s products play a critical role in the manufacture of advanced semiconductor devices and help customers make smaller, faster, and more complex devices. CMC Materials, Inc. is also a leading supplier of performance materials to pipeline operators. The company’s mission is to create value by delivering powerful and innovative solutions that solve its customers’ challenges. The company employs around 2,100 people worldwide. For more information about CMC Materials, Inc., visit www.cmcmaterials.com or contact Colleen Mumford, Vice President, Communications and Marketing, at 630-499-2600.
SAFE PORT DECLARATION
This press release contains forward-looking statements that address a variety of topics, including but not limited to future sales and results of operations. Growth or contraction, and trends in the industries and markets in which the company is involved, such as: B. in the semiconductor industry as well as in the oil and gas industry; the acquisition, investment in, or collaboration with other companies, including the Company’s acquisition of KMG, and the anticipated benefits and synergies from such acquisitions; Alienation or disposition or discontinuation of investments in certain areas of the Company’s business; new product launches; Development of new products, technologies and markets; Product performance; the financial conditions of the company’s customers; the competitive landscape related to the company’s business; the company’s supply chain; Natural disasters; various economic or political factors, as well as international or national events, including those related to global public health crises such as the COVID-19 pandemic and the imposition of trade sanctions, tariffs or similar matters; the creation, protection and acquisition of intellectual property as well as legal disputes in connection with this intellectual property or the intellectual property of third parties; Environmental, health and safety laws and regulations and related compliance; the operation of facilities by the company; the management of the company; Exchange rate fluctuations; the Company’s current or future tax rate, including the effects of changes in tax laws in the jurisdictions in which the Company operates; Cybersecurity threats; Financing facilities and related debts, principal or interest, principal and interest, and compliance with covenants and other terms and conditions; and using and investing the Company’s cash balance, including dividends and share buybacks, which the Company may suspend, terminate or change for any reason at any time for various reasons. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of CMC Materials, are forward-looking statements. Such statements are based on the current expectations of the management of CMC Materials and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Please refer to CMC Materials’ filings with the Securities and Exchange Commission (“SEC”), including those contained in CMC Materials, for information about factors that could cause actual results to differ materially from those described in the forward-looking statements Risk factors. Annual report on Form 10-K for the fiscal year ended September 30, 2020. Except as required by law, CMC Materials undertakes no obligation to update any forward-looking statements to reflect new information, future events or circumstances.
Source: CMC Materials
Colleen Mumford Vice President, Communications and Marketing CMC Materials, Inc. (630) 499-2600