Lam Research raises dividend by 15%

Lam Research Corp. LRCX, +3.28% said late Thursday its board of directors has approved 22.5 cent, or 15%, increase in the company’s dividend, to $1.725 a share from $1.50 a share. The increase “is consistent with the intent for disciplined annual dividend growth,” Lam Research said. The dividend will be paid Oct. 5 to shareholders of record on Sept. 14, the company said. Lam Research shares dropped 0.9% in the extended session after ending regular trading Thursday up 3.3%.