![](https://investorshub.advfn.com/uicon/47164.png?cb=1600697392)
Thursday, November 20, 2014 5:35:26 PM
Declaration Date Nov 19, 2014
Ex-Dividend Date Nov 26, 2014
Record Date Dec 01, 2014
Payable Date Dec 09, 2014
Dividend $ Amount $16.50
http://finance.yahoo.com/news/kla-tencor-declares-special-cash-003000289.html
KLA-Tencor Declares Special Cash Dividend, Announces Planned Redemption of Senior Notes due 2018, and Updates Outlook for Second Quarter of Fiscal Year 2015 Resulting from Previously Announced Leveraged Recapitalization Transaction
MILPITAS, Calif., Nov. 19, 2014 /PRNewswire/ -- KLA-Tencor Corporation (KLAC) announced that its Board of Directors has declared a special cash dividend of $16.50 per share on its common stock payable on December 9, 2014 to KLA-Tencor stockholders of record as of the close of business on December 1, 2014. KLA-Tencor's Board of Directors has also authorized the redemption of $750.0 million outstanding principal amount of KLA-Tencor's 6.900% Senior Notes due 2018.
"We are pleased with the successful completion of the financing of our leveraged recapitalization transaction, and the declaration of our special cash dividend of $16.50 per share," said Rick Wallace, President and Chief Executive Officer of KLA-Tencor. "This is a major step forward for the Company in executing our capital allocation strategies in support of our strategic objectives, and fueling strong stockholder returns."
The company also revised its outlook for the second quarter of fiscal year 2015 following the closing of its previously announced registered offering of approximately $2.5 billion aggregate principal amount of its Senior Notes under an effective Registration Statement (including a prospectus supplement and accompanying base prospectus) on file with the Securities and Exchange Commission. The revised outlook for the second quarter of fiscal year 2015 also reflects the impact of the planned redemption of $750.0 million outstanding principal amount of KLA-Tencor's 6.900% Senior Notes due 2018 (including the payment of associated redemption premiums, accrued interest and related fees and expenses), borrowings of $750.0 million under term loans provided under a credit agreement and a $500.0 million unfunded revolving credit facility.
Special Cash Dividend of $16.50 per Share
The special cash dividend was approved by KLA-Tencor's Board of Directors on November 19, 2014 and will be payable on December 9, 2014 to stockholders of record at the close of business on December 1, 2014. Of the $16.50 per share distribution, KLA-Tencor currently expects between $11.50 to $12.50 per share to be characterized as a dividend, and the remaining amount of the distribution to be characterized as a return of capital. The ultimate tax characterization of the distribution will be reported to stockholders on a Form 1099-DIV shortly after the end of the calendar year. Stockholders should consult their tax advisors regarding the tax effects of the special cash dividend to them.
Redemption of $750.0 million Principal Amount of KLA-Tencor's 6.900% Senior Notes due 2018
KLA-Tencor will redeem $750.0 million outstanding principal amount of KLA-Tencor's 6.900% Senior Notes due 2018 on December 19, 2014 ("Redemption Date"). The redemption price will be equal to the greater of (1) 100% of the principal amount of the notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be redeemed (exclusive of interest accrued to the Redemption Date), discounted to the Redemption Date on a semi-annual basis, at a rate equal to the sum of the treasury rate plus 50 basis points, plus the accrued and unpaid interest to, but not including, the Redemption Date.
Revised Outlook for the Second Quarter of Fiscal Year 2015
For the second quarter of fiscal year 2015 ending December 31, 2014, GAAP diluted earnings is expected to be in the range of $(0.19) to $0.05 per share. Other income and expense for the second quarter of 2015 (including incremental interest expense from the issuance of new borrowings described above) is expected to be a net expense of approximately $30 million. Additionally the estimated loss on extinguishment of $750.0 million outstanding principal amount of KLA-Tencor's 6.900% Senior Notes due 2018 is expected to be approximately $131 million.
Non-GAAP diluted earnings is expected to be in the range of $0.37 to $0.61 per share. In addition to the regular non-GAAP adjustments related to the effects of amortization of acquired intangible assets and restructuring, severance and other related charges, which have an impact of approximately $0.02 per share each, the revised guidance excludes approximately $0.80 per share related to the estimated loss on extinguishment of $750.0 million outstanding principal amount of KLA-Tencor's 6.900% Senior Notes due 2018, and approximately $0.01 per share for third-party expenses related to the leveraged recapitalization, partially offset by an approximately $(0.29) per share benefit related to the income tax effects of all of the revised items noted above.
Adjustment to Certain Outstanding Equity Awards
In connection with the special cash dividend, the Board of Directors and the Compensation Committee of the Board of Directors have approved a proportionate and equitable adjustment to outstanding equity awards (restricted stock units and stock options), as required under the 2004 Equity Incentive Plan, subject to the vesting requirements of the underlying awards
"Then there was a woman, a lion of a woman."
Recent KLAC News
- Traders May Take A Breather Following Yesterday’s Rally As Jobs Data Looms • IH Market News • 06/06/2024 01:08:35 PM
- Nasdaq, S&P 500 Rally To New Record Closing Highs • IH Market News • 06/05/2024 08:46:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/24/2024 08:05:25 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/24/2024 01:59:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/23/2024 09:38:43 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/23/2024 01:55:35 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/21/2024 02:07:52 PM
- KLA Announces Upcoming Investor Webcasts • PR Newswire (US) • 05/16/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 08:05:12 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/07/2024 04:01:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/06/2024 02:12:23 PM
- KLA Declares Regular Cash Dividend • PR Newswire (US) • 05/02/2024 09:00:00 PM
- KLA Corporation Reports Fiscal 2024 Third Quarter Results • PR Newswire (US) • 04/25/2024 08:13:00 PM
- KLA Announces Third Quarter Fiscal Year 2024 Earnings Date • PR Newswire (US) • 04/04/2024 08:05:00 PM
- KLA Announces Upcoming Investor Webcast • PR Newswire (US) • 02/14/2024 09:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 12:41:29 PM
- KLA Declares Regular Cash Dividend • PR Newswire (US) • 02/07/2024 11:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/01/2024 09:11:04 PM
- Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses • Edgar (US Regulatory) • 01/30/2024 10:14:56 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 01/30/2024 02:15:10 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 01/26/2024 09:10:28 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/25/2024 09:59:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/25/2024 09:07:26 PM
- KLA Corporation Reports Fiscal 2024 Second Quarter Results • PR Newswire (US) • 01/25/2024 09:05:00 PM
- KLA Announces Second Quarter Fiscal Year 2024 Earnings Date • PR Newswire (US) • 01/04/2024 09:05:00 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM