CHANDLER, Ariz., Nov. 03, 2022 (GLOBE NEWSWIRE) — (NASDAQ: MCHP) – Microchip Technology Incorporated, a number one supplier of good, linked, and safe embedded management options, at present introduced that its Board of Directors declared a quarterly money dividend on its frequent inventory of 32.8 cents per share. The dividend is payable on December 6, 2022, to stockholders of document on November 22, 2022. Microchip initiated quarterly money dividend funds within the third quarter of fiscal 12 months 2003 and has elevated its dividend 72 instances since its inception.
“Microchip’s financial performance in the September 2022 quarter was very strong, resulting in solid cash generation and significant debt reduction,” stated Steve Sanghi, Executive Chair. “Today, our Board of Directors approved a year-over-year increase in our dividend of 41.4% to 32.8 cents per share, up from our November 2021 dividend of 23.2 cents per share. This represents 81 consecutive quarters of dividend payments for Microchip and reflects confidence in the cash-generating capability of our business, as well as our ongoing commitment to returning capital to our stockholders.”
Cautionary Statement:
The statements contained on this launch referring to our confidence within the cash-generating functionality of our business and our ongoing dedication to returning capital to our stockholders are forward-looking statements made pursuant to the protected harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements contain dangers and uncertainties that would trigger precise outcomes to vary materially, together with, however not restricted to any continued uncertainty, fluctuations or weak spot within the U.S. and world economies (together with China) resulting from rising rates of interest, excessive inflation or the impression of the COVID-19 pandemic (together with lock-downs in China) which have an effect on our business and the companies of our clients and suppliers, actions taken or which can be taken by the Biden administration or the U.S. Congress, financial coverage, political, geopolitical, commerce or different points within the U.S. or internationally (together with the Ukraine-Russia army battle), precise money flows generated from and used within the operation of our business; precise or projected ranges of capital expenditures; our steadiness of money and investments; modifications within the tax charges that our stockholders pay on our dividends or different modifications in U.S. tax legal guidelines together with the Inflation Reduction Act of 2022, the Tax Cut and Jobs Act of 2017 and any new legal guidelines which can be enacted; our out there borrowings underneath our credit score settlement; the impression of any important acquisitions or strategic transactions we could undertake;
our skill to understand the anticipated advantages of our acquisitions, modifications in demand or market acceptance of our merchandise and the merchandise of our clients and our skill to satisfy any continued will increase in market demand; the combination of stock we maintain and our skill to fulfill short-term orders from our stock; modifications in utilization of our manufacturing capability and our skill to successfully handle our manufacturing ranges and enhance manufacturing to satisfy any continued will increase in market demand; our skill to acquire further capability from our wafer foundries and different suppliers to extend manufacturing to satisfy any continued will increase in market demand; our skill to regulate the extent of working bills relative to our degree of revenues; aggressive developments together with pricing pressures; the extent of orders which might be obtained and could be shipped in 1 / 4; modifications or fluctuations in buyer order patterns and seasonality; the prices and consequence of any present or future litigation or different issues involving our Microsemi acquisition, the Microsemi business, mental property, clients, or different points; the impression the CHIPS Act can have on growing manufacturing capability in our business by offering incentives for us, our opponents and foundries to assemble new wafer manufacturing amenities, the prices and consequence of any present or future tax audit or investigation relating to our business or the business of Microsemi; disruptions in our business or the companies of our clients or suppliers resulting from pure disasters (together with any floods in Thailand), terrorist exercise, armed battle, conflict, worldwide oil costs and provide, public well being considerations (together with COVID-19) or disruptions within the transportation system; and basic financial, business or political circumstances within the United States or internationally.
For an in depth dialogue of those and different threat elements, please confer with Microchip’s filings on Forms 10-Ok and 10-Q. You can acquire copies of Forms 10-Ok and 10-Q and different related paperwork without cost at Microchip’s web site (www.microchip.com) or the SEC’s web site (www.sec.gov) or from industrial doc retrieval companies.
Stockholders of Microchip are cautioned to not place undue reliance on our forward-looking statements, which communicate solely as of the date such statements are made. Microchip doesn’t undertake any obligation to publicly replace any forward-looking statements to mirror occasions, circumstances, or new info after this November 3, 2022 press launch or to mirror the incidence of unanticipated occasions.
About Microchip:
Microchip Technology Incorporated is a number one supplier of good, linked and safe embedded management options. Its easy-to-use improvement instruments and complete product portfolio allow clients to create optimum designs, which cut back threat whereas decreasing whole system value and time to market. The firm’s options serve greater than 125,000 clients throughout the commercial, automotive, client, aerospace and protection, communications and computing markets. Headquartered in Chandler, Arizona, Microchip gives excellent technical assist together with reliable supply and high quality. For extra info, go to the Microchip web site at www.microchip.com.
The Microchip emblem and identify are registered logos of Microchip Technology Incorporated.
INVESTOR RELATIONS CONTACT:
J. Eric Bjornholt — CFO (480) 792-7804