Cabot Microelectronics Corporation Increases Quarterly Cash Dividend and Provides Commentary on Quarterly Guidance
March 04 2020 - 6:00AM
Cabot Microelectronics Corporation (Nasdaq: CCMP) today announced
that its Board of Directors has declared a quarterly cash dividend
of $0.44 per share ($1.76 per share on an annualized basis) on the
company's common stock, an increase of approximately five percent
over the most recent quarterly dividend, which was paid on or about
January 30, 2020. The dividend will be payable on or about April
24, 2020 to shareholders of record at the close of business on
March 24, 2020.
The company also is providing the following
commentary on its second quarter of fiscal 2020 guidance: “At
present, we have not seen a significant impact from the COVID-19 on
our global supply chain or operations, and based on currently
available information, our expectations for revenue for our second
fiscal quarter appear to be trending in-line with the guidance
provided during our first fiscal quarter earnings call on February
6; however, the environment is rapidly evolving and we will
continue to monitor developments as related to our business,” said
David Li, President and CEO of Cabot Microelectronics
Corporation.
The company’s Annual Meeting of Stockholders
will be held at 8:00 a.m. Central Time on Wednesday, March 4, 2020,
at the company’s global headquarters located at 870 N. Commons
Drive, Aurora, Illinois.
Dial-in information:
United States: (844) 524-4837
International: (647)
689-6864
Conference code: 5892765
A transcript of the formal comments made during
the Annual Meeting will be available in the Investor Relations
section of the company’s website, ir.cabotcmp.com.
ABOUT CABOT MICROELECTRONICS
CORPORATIONCabot Microelectronics Corporation,
headquartered in Aurora, Illinois, is a leading global supplier of
consumable materials to semiconductor manufacturers and pipeline
companies. The company’s products play a critical role in the
production of advanced semiconductor devices, helping to enable the
manufacture of smaller, faster and more complex devices by its
customers. Cabot Microelectronics Corporation is also a
leading provider of performance materials to pipeline
operators. The company's mission is to create value by
delivering high-performing and innovative solutions that solve its
customers’ challenges. The company has approximately 2,000
employees globally. For more information about Cabot
Microelectronics Corporation, visit www.cabotcmp.com, or contact
Colleen Mumford, Vice President, Communications and Marketing, at
630-499-2600.
SAFE HARBOR STATEMENTThis press
release contains forward-looking statements, which address a
variety of subjects including, for example, future sales and
operating results; growth or contraction, and trends in the
industry and markets in which the Company participates; the
acquisition of, investment in, or collaboration with other
entities, including the Company’s acquisition of KMG Chemicals,
Inc. (“KMG”), and the expected benefits and synergies of such
acquisition; divestment or disposition, or cessation of investment
in certain, of the Company’s businesses; new product introductions;
development of new products, technologies and markets; product
performance; the financial conditions of the Company's customers;
competitive landscape; the Company's supply chain; natural
disasters; various economic or political factors and international
or national events, including related to global public health
crises and the enactment of trade sanctions, tariffs, or other
similar matters; the generation, protection and acquisition of
intellectual property, and litigation related to such intellectual
property or third party intellectual property; environmental,
health and safety laws and regulations, and related compliance; the
operation of facilities by Cabot Microelectronics; the Company's
management; foreign exchange fluctuation; the Company's current or
future tax rate, including the effects of the Tax Cuts and Jobs Act
in the United States (“Tax Act”); cybersecurity threats; financing
facilities and related debt, pay off or payment of principal and
interest, and compliance with covenants and other terms; and, uses
and investment of the Company's cash balance, including dividends
and share repurchases, which may be suspended, terminated or
modified at any time for any reason by the Company, based on a
variety of factors. Statements that are not historical facts,
including statements about Cabot Microelectronics’ beliefs, plans
and expectations, are forward-looking statements. Such statements
are based on current expectations of Cabot Microelectronics’
management and are subject to a number of factors and
uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements.
For information about factors that could cause actual results to
differ materially from those described in the forward-looking
statements, please refer to Cabot Microelectronics’ filings with
the Securities and Exchange Commission (“SEC”), including the risk
factors contained in Cabot Microelectronics’ Annual Report on Form
10-K for the fiscal year ended September 30, 2019. Except as
required by law, Cabot Microelectronics undertakes no obligation to
update forward-looking statements made by it to reflect new
information, subsequent events or circumstances.
Colleen Mumford
Vice President, Communications and Marketing
Cabot Microelectronics Corporation
(630) 499-2600
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