8-KEarnings & ResultsOther EventsExhibits & Filings

Dell Technologies Inc. 8-K Report, Financial Results (Feb 24, 2022)

Filed February 24, 2022For Securities:DELL

Summary

Dell Technologies Inc. (DELL) has filed an 8-K report on February 24, 2022, announcing key financial and strategic developments. The company reported its financial results for the fiscal quarter and year ended January 28, 2022, as detailed in a press release furnished as an exhibit. Of significant note to investors is the introduction of a new quarterly cash dividend policy. The Board of Directors has adopted a policy to pay a quarterly dividend, commencing in the current fiscal quarter, at an initial annual rate of $1.32 per share, representing approximately $1 billion in aggregate per fiscal year. The first quarterly dividend of $0.33 per share has already been declared, payable on April 29, 2022. This marks a shift towards returning capital to shareholders, though the policy remains subject to the Board's discretion.

Key Highlights

  • 1Dell Technologies announced its financial results for the fiscal quarter and year ended January 28, 2022.
  • 2A new quarterly cash dividend policy has been adopted by the Board of Directors.
  • 3The initial annual dividend rate is set at $1.32 per share.
  • 4The aggregate annual dividend payout is expected to be approximately $1 billion.
  • 5The first quarterly dividend of $0.33 per share has been declared and is payable on April 29, 2022.
  • 6The dividend policy is subject to the Board's ongoing assessment of the company's best interests and compliance with law.
  • 7The Board retains the authority to modify, suspend, or cancel the dividend policy.

Frequently Asked Questions

The most significant announcement is Dell's adoption of a new quarterly cash dividend policy, marking a commitment to returning capital directly to shareholders. The initial annual dividend rate is $1.32 per share, with the first payment of $0.33 per share expected in April 2022.

The initial quarterly dividend has been declared at $0.33 per share. It is payable on April 29, 2022, to shareholders of record as of April 20, 2022.

No, the dividend policy is not permanent. The declaration and payment of dividends are subject to the Board of Directors' continuing determination that it is in the best interests of the Company and in compliance with applicable law. The Board retains the right to modify, suspend, or cancel the policy at any time.

This 8-K filing primarily announces the financial results through a press release (Exhibit 99.1) rather than detailing them directly within the filing itself. Investors should refer to the furnished press release for specific financial performance figures for the quarter and fiscal year ended January 28, 2022.