Seagate Technology plc (NASDAQ:STX) today announced that its Board of Directors has approved a 17 percent increase in the company's targeted regular cash dividend. The targeted annual dividend will increase from $2.16 to $2.52 per share and will continue to be paid quarterly. The first payment at the new quarterly rate of $0.63 per share is scheduled to be paid on November 20, 2015 to shareholders of record as of the close of business on November 6, 2015. The declaration and payment of any future quarterly dividends will continue to be at the discretion of the Board of Directors and will be dependent upon Seagate's financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board.
"Today's increase in our dividend targets reflects our confidence in Seagate's ability to continue to generate sustainable operating cash flow and maintain a strong balance sheet," said Steve Luczo, Seagate chairman and chief executive officer. "This is consistent with our capital allocation priorities we have previously articulated, including returning cash to shareholders through dividends and share redemption."
Recommended for You
Latest News Posts
- NeoGAF goes down, owner embroiled in sexual harrassment
- ASUS ROG Strix GTX 1070 Ti teased with triple-fan cooler
- Bitcoin hits $6000, with $100 billion in value
- Galaxy S9: 6GB RAM, headphone jack is a selling point
- Mass Effect dev: EA only cares about highest returns
- Gigabyte AB-350 G3 CPU LED & No POST after update ->rollback?
- AMD Threadripper vs. Intel Core i9 CPUs Clock for Clock
- ex58-UD3R rev 1.6
- RAID on a new X370 Fatal1ty Gaming X with m.2 SSDs using a PCIe card.
- LGA-775 GA-EP35-DS3P (rev 2.1), Q9550 e0 overclocking advice please?
- Introducing the CYBERPOWERPC Crystal Gaming Series Powered By CORSAIR
- COLORFUL Officially Releases iGame Z370 Vulcan X Motherboard in South Korea
- G.SKILL Releases DDR4-3800MHz 32GB (4x8GB) SO-DIMM Memory Kit for Mini-ITX Motherboards
- EK Water Blocks releases new Slim Series kits
- BIOSTAR releases new RACING Z370GT7 motherboard