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.
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.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.