KLAC-Tencor Paying Special Dividend, Triggers Share Rally
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KLA-Tencor Corp., a maker of chip-production machinery, surprised investors with a special dividend equal to about 23 percent of the company’s share price before the announcement, sparking a jump in the stock.
KLA, which also issued a revenue forecast that fell short of analysts’ average estimates for the third straight quarter, intends to pay the $16.50-a-share cash dividend before the end of the year, the company said in a statement yesterday. The stock rose 6.9 percent to $75.90 at the close in New York.