Item 2.02. Results of Operations and Financial Condition.
The following information is intended to be furnished under Item 2.02 of Form
8-K, "Results of Operations and Financial Condition." This information shall not
be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of
1934, as amended (the "Exchange Act"), or incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as shall be expressly set forth by specific reference in such a filing.
On July 29, 2021, Dolby Laboratories, Inc. (the "Company") issued a press
release announcing its financial results for its fiscal quarter ended June 25,
2021. The full text of the press release is furnished as Exhibit 99.1 and is
incorporated herein by reference.
Item 8.01. Other Events.
Declaration of Dividend
On July 29, 2021, the Company announced a cash dividend of $0.22 per share of
Class A and Class B Common Stock, payable on August 19, 2021 to stockholders of
record as of the close of business on August 11, 2021.
Increase in Share Repurchase Authorization
On July 29, 2021, the Company also announced that its Board of Directors
approved increasing the size of its stock repurchase program by $350 million,
bringing the amount available for future repurchases of the Company's Class A
Common Stock to approximately $387 million. Stock repurchases under this program
may be made through open market transactions, negotiated purchases or otherwise,
at times and in such amounts as the Company considers appropriate. The timing of
repurchases and the number of shares repurchased will depend on a variety of
factors including price, the rate of dilution from the Company's equity
compensation programs, regulatory requirements, and other market conditions. The
Company may limit, suspend, or terminate the stock repurchase program at any
time without prior notice. Any shares repurchased under the program will be
returned to the status of authorized, but unissued shares of Class A Common
Disclosure Channels to Disseminate Information
The Company disseminates information to the public about the Company, its
products, services and other matters through various channels, including the
Company's website (www.dolby.com), investor relations website
(http://investor.dolby.com), SEC filings, press releases, public conference
calls and webcasts, in order to achieve broad, non-exclusionary distribution of
information to the public. The Company encourages investors and others to
review the information it makes public through these channels, as such
information could be deemed to be material information.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
99.1 Press Release of Dolby Laboratories, Inc. dated July 29, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL
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