Cabot Microelectronics Corporation Increases Quarterly Cash Dividend and Provides Commentary on Quarterly Guidance

Aurora, IL, March 04, 2020 (GLOBE NEWSWIRE) -- Cabot Microelectronics Corporation (Nasdaq: CCMP) today announced that its Board of Directors has declared a quarterly cash dividend of $0.44 per share ($1.76 per share on an annualized basis) on the company's common stock, an increase of approximately five percent over the most recent quarterly dividend, which was paid on or about January 30, 2020. The dividend will be payable on or about April 24, 2020 to shareholders of record at the close of business on March 24, 2020.

The company also is providing the following commentary on its second quarter of fiscal 2020 guidance: “At present, we have not seen a significant impact from the COVID-19 on our global supply chain or operations, and based on currently available information, our expectations for revenue for our second fiscal quarter appear to be trending in-line with the guidance provided during our first fiscal quarter earnings call on February 6; however, the environment is rapidly evolving and we will continue to monitor developments as related to our business,” said David Li, President and CEO of Cabot Microelectronics Corporation.

The company’s Annual Meeting of Stockholders will be held at 8:00 a.m. Central Time on Wednesday, March 4, 2020, at the company’s global headquarters located at 870 N. Commons Drive, Aurora, Illinois.

Dial-in information:  United States: [phone] 
                                  International: [phone] 
                                  Conference code:  5892765 

A transcript of the formal comments made during the Annual Meeting will be available in the Investor Relations section of the company’s website, ir.cabotcmp.com.

ABOUT CABOT MICROELECTRONICS CORPORATION
Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is a leading global supplier of consumable materials to semiconductor manufacturers and pipeline companies.  The company’s products play a critical role in the production of advanced semiconductor devices, helping to enable the manufacture of smaller, faster and more complex devices by its customers.  Cabot Microelectronics Corporation is also a leading provider of performance materials to pipeline operators.  The company's mission is to create value by delivering high-performing and innovative solutions that solve its customers’ challenges.  The company has approximately 2,000 employees globally.  For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com, or contact Colleen Mumford, Vice President, Communications and Marketing, at 630-499-2600.