Summary
KLA-Tencor Corporation (KLAC) announced on February 7, 2013, through an 8-K filing, two key updates for its shareholders. The company's Board of Directors declared a quarterly cash dividend of $0.40 per share, payable on March 1, 2013, to shareholders of record as of February 19, 2013. This action signals a continued commitment to returning capital to shareholders. Additionally, the Board approved an amendment to the company's Amended and Restated 1997 Employee Stock Purchase Plan (ESPP). This amendment clarifies the definition of 'Compensation' to explicitly include payments upon vesting of cash long-term incentive awards. While the company views this as a clarification rather than a material change, it ensures that these awards are eligible for deduction within the ESPP framework.
Key Highlights
- 1KLA-Tencor declared a cash dividend of $0.40 per share.
- 2The dividend is payable on March 1, 2013.
- 3Record date for the dividend is February 19, 2013.
- 4The company's Board approved an amendment to the ESPP.
- 5The amendment clarifies the definition of 'Compensation' under the ESPP.
- 6Payments from cash long-term incentive awards are now explicitly included as compensation eligible for ESPP deductions.