KLAC Hikes Quarterly Dividend; Shares Rise

Board of directors of KLA-Tencor Corp KLAC has approved a sharp hike in its quarterly dividend. KLAC will now pay a quarterly dividend of $0.25 a share, up from $0.15 a share, starting in August. CEO Rick Wallace said, "KLA-Tencor's strong cash flows and solid balance sheet provide us the financial flexibility to return significant cash to our shareholders while also providing the capacity to fuel our growth initiatives." Shares of KLAC are up 1.52% to $29.96 in pre-market trading. Read more from Benzinga's Company news.