8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Feb 14, 2013)

Filed February 14, 2013For Securities:WDC

Summary

This Form 8-K filing by Western Digital Corporation (WDC) on February 13, 2013, primarily announces the declaration of a quarterly cash dividend. The Board of Directors has declared a dividend of $0.25 per share of Common Stock for the quarter ending March 29, 2013. This dividend is scheduled to be paid on April 15, 2013, to shareholders of record as of March 29, 2013. While the declaration of a dividend is a positive signal to investors regarding the company's financial health and commitment to returning value, the filing also emphasizes that future dividend amounts are contingent upon various factors. These include the company's financial position, operational results, cash flows, capital needs, and any restrictions under its existing credit agreement. The Board retains the discretion to modify, suspend, or cancel the dividend policy at any time.

Key Highlights

  • 1Western Digital declared a cash dividend of $0.25 per share for the quarter ending March 29, 2013.
  • 2The dividend payment date is April 15, 2013.
  • 3The record date for dividend eligibility is March 29, 2013.
  • 4Future dividend declarations are subject to the company's financial performance, cash flow, and capital requirements.
  • 5Dividend payments must comply with existing credit agreement restrictions and applicable law.
  • 6The Board of Directors reserves the right to modify, suspend, or cancel the dividend policy at its discretion.
  • 7The filing includes a press release (Exhibit 99.1) detailing the dividend announcement.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly disclose Western Digital's declaration of a quarterly cash dividend for its common stock.

The declared dividend is $0.25 per share of Common Stock, and it is scheduled to be paid on April 15, 2013. Shareholders must be of record on March 29, 2013, to be eligible for this payment.

No, the dividend is not guaranteed for future quarters. The company's dividend policy is subject to ongoing review and depends on factors such as financial position, operational results, cash flows, capital needs, and any credit agreement restrictions. The Board of Directors has the discretion to change or cancel the policy.

Yes, the company states that dividends must comply with restrictions under its existing credit agreement and applicable law. The Board also retains the right to modify or suspend the dividend policy as deemed necessary.