Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for LAM Research Corp. > News item |
Novellus Systems raises conversion rate for 2.625% convertibles
By Sarah Lizee
Olympia, Wash., March 27 – Novellus Systems, Inc. increased the conversion rate for its 2.625% senior convertible notes due 2041, according to an 8-K filing with the Securities and Exchange Commission made by parent company Lam Research Corp.
The conversion rate was increased to 31.3961 shares of common stock per $1,000 principal amount of notes from 31.2089 shares.
The adjustment became effective on March 24, the ex-dividend date for Lam Research’s upcoming dividend.
Lam Research’s board of directors declared a quarterly cash dividend payment of $1.15 per share on its stock. Payment is scheduled for April 8.
Lam Research is a Fremont, Calif.-based semiconductor manufacturing equipment company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.