Dell Shares Rally After Company Announces First Ever Quarterly Dividend

Michael Dell web 2.0

Shares in computer manufacturer Dell staged a three per cent rally after the company announced it would issue a quarterly dividend of $0.08 per quarter.

Click here for updates >

The company’s board of directors approved the disbursements, which will amount to a dividend yield of 2.7 per cent based on Monday’s closing price of $11.86.

“Our efforts to streamline our operations and shift the mix of our business over the past several years have resulted in sustainably strong cash flow from operations, enabling us to increase the percentage of capital we’ve allocated to research and development, capital expenditures and acquisitions while maintaining an ongoing share repurchase program,” Dell’s CFO Brian Gladden said.

Shares in Dell are down more than 15 per cent year-to-date.

SEE ALSO: CHART OF THE DAY — Whole Foods Is Bigger Than The Portuguese Stock Market >

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.


Tagged In

dell moneygame-us