SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
August 2, 2021
Date of Report (date of earliest event reported)
|MICRON TECHNOLOGY, INC.|
|(Exact name of registrant as specified in its charter)|
|(State or other jurisdiction of incorporation)||(Commission File Number)||(IRS Employer Identification No.)|
|8000 South Federal Way|
Boise, Idaho 83716-9632
|(Address of principal executive offices and Zip Code)|
|(Registrant’s telephone number, including area code)|
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading symbol||Name of each exchange on which registered|
|Common Stock, par value $0.10 per share||MU||Nasdaq Global Select Market|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On August 2, 2021, Micron Technology, Inc. (the “Company”), issued a press release announcing the declaration of a quarterly dividend of $0.10 per share of the Company’s outstanding common stock and a conference call on Monday, August 2, 2021 at 2:30 p.m. Mountain time to discuss the Company’s updated capital allocation strategy. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
|Item 9.01.||Financial Statements and Exhibits.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
|MICRON TECHNOLOGY, INC.|
|Date:||August 2, 2021||By:||/s/ David A. Zinsner|
|Name:||David A. Zinsner|
|Title:||Senior Vice President and Chief Financial Officer|
Micron Initiates a Quarterly Cash Dividend
Dividend demonstrates commitment to shareholders; marks major
milestone in the New Micron transformation
BOISE, Idaho, Aug. 02, 2021 – Micron Technology, Inc. (Nasdaq: MU), today announced that its Board of Directors has declared a quarterly dividend of $0.10 per share of Micron’s outstanding Common Stock. The initial quarterly dividend will be payable in cash on October 18, 2021, to shareholders of record as of the close of business on October 1, 2021.
“Micron’s remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet. This transformation creates the opportunity today to enhance the value of our capital returns program,” said Micron Technology President and CEO Sanjay Mehrotra. “Initiating a common stock dividend reflects our confidence in Micron’s future and our commitment to creating compelling value for shareholders.”
The dividend augments the share repurchase plan that Micron announced in May 2018.Through its most recently reported quarterly results, Micron has returned approximately $4 billion in share repurchases and the cash settlement of convertible securities, retiring 90 million shares at an average price of $42.
Micron will host a conference call on Monday, August 2, 2021 at 2:30 p.m. Mountain time to discuss its updated capital allocation strategy. A live webcast of the call will be available online at investors.micron.com. A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow @MicronTech on Twitter at twitter.com/MicronTech.
About Micron Technology, Inc.
We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence and 5G applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.
© 2021 Micron Technology, Inc. All rights reserved. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.
This press release contains forward-looking statements regarding our expected dividend payments. These forward- looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, specifically our most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at micron.com/certainfactors. Although we believe that the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements after the date of this release to conform these statements to actual results.
Micron Media Relations Contact
Micron Technology, Inc.
+1 (408) 802-0602
Micron Investor Relations Contact
Micron Technology, Inc.
+1 (408) 834-1927