We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

DELL Offers Long-Term Outlook, Launches Share Buyback Program

1 13 8
24.09.2021

Dell Technologies DELL provided a long-term outlook at its online Securities Analyst Meeting on Sep 23. The company expects to witness revenue CAGR of 3-4% and earnings CAGR of more than 6% through fiscal 2026. Net income to adjusted free cash flow conversion is expected to be greater than 100% through this period. Dell targets to return 40-60% of adjusted free cash flow to shareholders through share buybacks and quarterly dividend. In this aspect, Dell announced a share repurchase program worth $5 billion. Upon receiving approval from its board of directors post the VMware VMW spin-off, the company expects to start paying dividend, beginning first-quarter fiscal 2023. Currently, Dell expects to return $1 billion annually through dividend payment. Dell expects the VMware spin-off to complete in early November, subject to closing conditions, including favorable private letter ruling from the IRS. Dell shares increased 3.5% to $102.69 at close on Sep 23. Year to date, Dell shares are up 40.1% compared with the Zacks IT-Services return of 23.8%.

Dell Technologies Inc. price-consensus-chart | Dell Technologies Inc.........

© Entrepreneur


Get it on Google Play