Micron to start paying quarterly dividend amid earnings boom


Micron Technology Inc. will pay a dividend of 10 cents a share, starting in October, the company said Monday.

“Micron’s remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet,” Chief Executive Sanjay Mehrotra said in a statement.

The first dividend payout will be made on Oct. 18 to shareholders of record as of the close of business on Oct. 1.

Micron
MU,
+1.69%,
which set multiple market and product revenue records in the most recent quarter and achieved the largest sequential earnings improvement in its history, reported a profit of $3.14 billion for the nine-month period through June 3 on $19.43 billion in revenue, up from a profit of $1.7 billion on $15.38 billion in revenue for the comparable nine-month period a year earlier.

Write to Maria Armental at maria.armental@wsj.com.


View more information: https://www.marketwatch.com/story/micron-initiates-a-quarterly-cash-dividend-of-10c-share-271627935604

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