Applied Materials Inc. announced Friday that it was upping its quarterly dividend by a penny to 22 cents a share. The dividend will be payable on June 11. to those who are shareholders of record as of May 21. "We are increasing the dividend based on our strong cash flow performance and ongoing commitment to return capital to shareholders," Chief Executive Gary Dickerson said in a release. Applied Materials shares are up 6.4% in premarket trading Friday. The stock has dropped 22% over the past month, as the S&P 500 has lost 26% and the PHLX Semiconductor Index has declined 29%.