8-KEarnings & ResultsRegulation FDOther Events+1

Broadcom Inc. 8-K Report, Financial Results (Dec 10, 2020)

Filed December 10, 2020For Securities:AVGO

Summary

Broadcom Inc. filed an 8-K on December 10, 2020, primarily to announce its fourth fiscal quarter and full fiscal year 2020 financial results, which were expected to be discussed in an investor conference call held the same day. While the full financial details are in the attached press release (Exhibit 99.1), the filing itself confirms the company is continuing its shareholder return program by declaring quarterly cash dividends for both its common stock and its 8.00% Mandatory Convertible Preferred Stock, Series A. The dividend on the preferred stock is $20.00 per share, and the common stock dividend is $3.60 per share, both payable on December 31, 2020. Additionally, the report notes Broadcom's participation in the JP Morgan Tech Forum on January 12, 2021, indicating ongoing investor relations activities. Investors should refer to the press release for comprehensive financial performance data and guidance, as this 8-K filing serves mainly as a notification of these events and results announcement.

Key Highlights

  • 1Broadcom announced its fourth fiscal quarter and full fiscal year 2020 financial results via a press release filed as Exhibit 99.1.
  • 2A quarterly cash dividend of $3.60 per share was declared for Broadcom's common stock.
  • 3A quarterly cash dividend of $20.00 per share was declared for the 8.00% Mandatory Convertible Preferred Stock, Series A.
  • 4Both dividends are payable on December 31, 2020.
  • 5The company planned to host an investor conference call on December 10, 2020, to discuss the financial results.
  • 6Broadcom will be presenting at the JP Morgan Tech Forum on January 12, 2021.
  • 7The filing includes standard cautionary statements regarding forward-looking statements and associated risks, including those related to the COVID-19 pandemic.

Frequently Asked Questions

This 8-K filing primarily serves to announce Broadcom's fourth fiscal quarter and full fiscal year 2020 financial results. The detailed financial performance figures are contained within the press release attached as Exhibit 99.1. Investors are encouraged to review Exhibit 99.1 for specific revenue, profit, and other financial metrics.

Broadcom declared a quarterly cash dividend of $3.60 per share on its common stock and a quarterly cash dividend of $20.00 per share on its 8.00% Mandatory Convertible Preferred Stock, Series A. Both dividends are payable on December 31, 2020.

The press release dated December 10, 2020, titled 'Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2020 Financial Results and Quarterly Dividends,' which is attached as Exhibit 99.1 to this 8-K filing, contains the detailed financial results and commentary.

The mention of Broadcom presenting at the JP Morgan Tech Forum on January 12, 2021, indicates ongoing engagement with the investment community and provides investors with an upcoming opportunity to hear from the company's management.