UPDATE: NVIDIA Corp (NVDA) Will Increase Buybacks, Adding $750M by Q4
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Price: $214.72 -0.98%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: +100.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.5%
EPS Growth %: +100.0%
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(Updated - April 11, 2013 1:52 PM EDT)
NVIDIA Corp (NASDAQ: NVDA) to increase stock buybacks, with a goal of adding $750 million in Q4.
UDPATE - The full release is below:
NVIDIA today announced that it will return $1 billion this fiscal year to shareholders in the form of stock buybacks and dividend payments, including $100 million in stock being repurchased this quarter.
This will bring to $1.2 billion the total capital returned to shareholders since the company announced its quarterly dividend program in November 2012.
NVIDIA had previously disclosed the return of $200 million in capital to shareholders since November. This includes $100 million in shares repurchased in its fiscal fourth quarter ended Jan. 27, 2013 and $100 million in dividends paid in the current and previous quarters.
The return of a further $1 billion will largely be through a structured stock repurchase program, which includes the $100 million being repurchased in the current quarter. It also includes the company's quarterly dividend of $0.075 per share, which has amounted to about $50 million a quarter.
"NVIDIA's strategies are gaining traction in the market and make us confident in our ability to continue generating cash," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "We are now broadening our program of giving back cash to our shareholders and plan to return a further $1 billion by the end of this fiscal year."
NVIDIA Corp (NASDAQ: NVDA) to increase stock buybacks, with a goal of adding $750 million in Q4.
UDPATE - The full release is below:
NVIDIA today announced that it will return $1 billion this fiscal year to shareholders in the form of stock buybacks and dividend payments, including $100 million in stock being repurchased this quarter.
This will bring to $1.2 billion the total capital returned to shareholders since the company announced its quarterly dividend program in November 2012.
NVIDIA had previously disclosed the return of $200 million in capital to shareholders since November. This includes $100 million in shares repurchased in its fiscal fourth quarter ended Jan. 27, 2013 and $100 million in dividends paid in the current and previous quarters.
The return of a further $1 billion will largely be through a structured stock repurchase program, which includes the $100 million being repurchased in the current quarter. It also includes the company's quarterly dividend of $0.075 per share, which has amounted to about $50 million a quarter.
"NVIDIA's strategies are gaining traction in the market and make us confident in our ability to continue generating cash," said Jen-Hsun Huang, president and chief executive officer of NVIDIA. "We are now broadening our program of giving back cash to our shareholders and plan to return a further $1 billion by the end of this fiscal year."
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