Dallas, Texas 03/05/2014 (FINANCIALSTRENDS) – Applied Materials, Inc. (NASDAQ:AMAT) provided more good news which is certain to excite its shareholders. The Board of directors of the firm under the leadership of Michael R. Splinter who is the Executive Chairman of the Board announced a quarterly cash dividend of 10 cents per share for the most recent quarter and this will be paid out to shareholders on record as of 22nd May on 12th June’14.
The news of dividend payout comes close on the heels of the last week’s announcement by Applied Materials, Inc. (NASDAQ:AMAT) in tandem with Japan based Tokyo Electron Limited that their proposed merger plans have been accepted by the U.S regulatory body “Committee on Foreign Investment”. The announcement goes on to clarify that the committee indicated to them that there were no unresolved issues which could have a ramplification on the national security of U.S and hence the green signal for the merger of the two firms without any preconditions.
Now that the regulatory approval has been received, the two firms are expected to works towards mutually fulfilling the routine conditions set forth in the “Business Combination Agreement” that Applied Materials, Inc. (NASDAQ:AMAT) and Tokyo Electron Limited had signed in September last year, at the time of merger announcement. The last step in the merger process is the seeking of approval of both company shareholders.
The $22 billion market capped Applied Materials, Inc. (NASDAQ:AMAT) has net income of $475 million in the past 12 months, which was generated from annual sales of $8.13 billion. It is into the manufacturing of components which are used by the global solar power generation equipment firms. Since the merger agreement was made public in September last year, the stock has gained close to 20 percent over its market valuation in September and is currently trading just 3 percent below its 52 week low price point.