Western Digital Corp. (NASDAQ: WDC) today announced that the Board of Directors declared a cash dividend for the quarter ending December 28, 2012, of $0.25 per share of common stock (the "cash dividend"). The cash dividend will be paid on December 26, 2012, to the company's stockholders of record as of December 14, 2012. On September 13, 2012, the company indicated that beginning in its current fiscal year 2013 it is targeting a return to shareholders of approximately 50 percent of its free cash flow through a mix of cash dividends and share repurchases.
The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's existing credit agreement, and will be in compliance with applicable law. The Board retains the power to modify, suspend or cancel the company's dividend policy in any manner and at any time as it may deem necessary or appropriate in the future.