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NVIDIA to return $1 billion to shareholders in current fiscal year through stock buybacks

NVIDIA planning to return $1 billion to shareholders through stock buybacks and dividends

| Business, Financial & Legal News | Posted: Apr 11, 2013 11:01 pm

NVIDIA announced at today's investor day that they intend to return roughly $1 billion back to shareholders. The money will be returned mainly through a structured stock repurchase program, though some will also be returned through the company's quarterly dividend of $0.075 per share.

 

TweakTown image news/2/9/29670_1_nvidia_to_return_1_billion_to_shareholders_in_current_fiscal_year_through_stock_buybacks.gif

 

NVIDIA said they have already returned $200 million to shareholders since the dividend was first announced in November 2012. Jen-Hsun Huang:

 

NVIDIA's strategies are gaining traction in the market and make us confident in our ability to continue generating cash. We are now broadening our program of giving back cash to our shareholders and plan to return a further $1 billion by the end of this fiscal year.

 

More details regarding the buyback plan will be provided next month when NVIDIA releases its financial results for Q1 2014.

NEWS SOURCE
Nvidianews.nvidia.com

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