Summary
Broadcom Inc. (AVGO) filed an 8-K on December 11, 2019, to announce its fourth fiscal quarter and full fiscal year 2019 financial results, which were to be discussed on a conference call on December 12, 2019. The report also detailed the company's declaration of quarterly cash dividends for both its common stock and its Series A Mandatory Convertible Preferred Stock, both payable on December 31, 2019. Additionally, the filing disclosed the Board's approval of the Fiscal Year 2020 Annual Performance Bonus Plan for Executive Employees. The terms of this plan are largely consistent with the previous year's plan, with adjustments to performance metrics. Investors should note that the financial results themselves are referenced via an attached press release (Exhibit 99.1) and the information contained within is not deemed incorporated by reference into future SEC filings.
Key Highlights
- 1Broadcom announced its Q4 and FY 2019 financial results on December 12, 2019.
- 2A quarterly cash dividend of $3.25 per share was declared for common stock.
- 3A quarterly cash dividend of $20.00 per share was declared for 8.00% Mandatory Convertible Preferred Stock, Series A.
- 4Both dividends are payable on December 31, 2019.
- 5The Board approved the Fiscal Year 2020 Annual Performance Bonus Plan for Executive Employees.
- 6The FY2020 bonus plan's terms are substantially similar to the FY2019 plan, with updated performance metrics.
- 7The press release containing the financial results is attached as Exhibit 99.1 and is not incorporated into future filings.