Dell Rolls Out Share Buyback Of Up To $5B, Annual Dividend Up To $1B

Dell Rolls Out Share Buyback Of Up To $5B, Annual Dividend Up To $1B
  • Dell Technologies Inc DELL announced long-term guidance, a share repurchase program and quarterly dividend plans for the first quarter of fiscal 2023 during Thursday's online Securities Analyst Meeting.
  • Dell announced compounded annual revenue growth guidance of 3%-4% and compounded annual growth in non-GAAP EPS of 6%-plus through FY26. 
  • Dell is guiding to a net income to adjusted free cash flow conversion of 100% or better through this period.
  • Dell is launching a share repurchase program of up to $5 billion effective November 2021 upon completing the VMware Inc VMW spin-off.
  • Dell plans to initiate a quarterly dividend from the first quarter of FY23 targeting an annual dividend of $1 billion. 
  • Dell aims to return 40%-60% of adjusted free cash flow to shareholders via share repurchases and dividends from FY23.
  • DELL Price Action: Dell shares were trading 3.64% higher at $102.89 midday Thursday.

Posted In: BriefsNewsGuidanceDividendsBuybacksTech