Amkor Technology stock rallies after boosting dividend by 25%

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Shares of Amkor Technology Inc. AMKR, +3.21% rallied 1.7% in afternoon trading Tuesday, after the semiconductor packaging and test services company announced a 25% increase in its quarterly dividend. Shareholders of record on Dec. 7 will be paid the new dividend of 5 cents a share, up from 4 cents, on Dec. 28. Based on current share prices, the new annual dividend rate implies a dividend yield of 0.84%, compared with the yield for the VanEck Semiconductor ETF SMH, +1.30% of 0.49% and the implied yield for the S&P 500 SPX, +0.39% of 1.31%. “Based on our strong operating results and financial position, Amkor has increased its quarterly cash dividend by 25%,” said Chief Executive Giel Rutten. “We are pleased to be in a position where we can both invest in our future and increase our return of capital to stockholders.” Amkor’s stock has lost 8.5% over the past three months but has rallied 57.7% year to date, while the semiconductor ETF has climbed 39.4% this year and the S&P 500 SPX, +0.39% has advanced 25.4%.

This article was originally published by Marketwatch.com. Read the original article here.

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