Kla Corp. announced a new program of shareholder returns on Thursday and reaffirmed guidance in a statement released ahead of an investor day. The Milpitas, Calif-based chip maker said its board has approved a new $6 billion share buyback program, that includes a roughly $3 billion accelerated share repurchase to be completed in the next three to six months. The board further approved a 24% increase in the company’s quarterly dividend to $1.30 a share from $1.05 previously. Kla backed its June quarter guidance and still expects adjusted EPS of $4.93 to $6.03 and revenue of $2.3 billion to $2.55 billion. The FactSet consensus is for EPS of $5.50 and revenue of $2.43 billion. Shares fell 1.3% premarket and are down 23% in the year to date, while the S&P 500 has fallen 20%.
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