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- Dell Technologies Inc DELL announced long-term guidance, a share repurchase program and quarterly dividend plans for the first quarter of fiscal 2023 during Thursday's online Securities Analyst Meeting.
- Dell announced compounded annual revenue growth guidance of 3%-4% and compounded annual growth in non-GAAP EPS of 6%-plus through FY26.
- Dell is guiding to a net income to adjusted free cash flow conversion of 100% or better through this period.
- Dell is launching a share repurchase program of up to $5 billion effective November 2021 upon completing the VMware Inc VMW spin-off.
- Dell plans to initiate a quarterly dividend from the first quarter of FY23 targeting an annual dividend of $1 billion.
- Dell aims to return 40%-60% of adjusted free cash flow to shareholders via share repurchases and dividends from FY23.
- DELL Price Action: Dell shares were trading 3.64% higher at $102.89 midday Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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