Summary
Western Digital Corp. (WDC) filed an 8-K on November 13, 2013, to disclose the declaration of a cash dividend. The company's Board of Directors approved a dividend of $0.30 per share for the quarter ending December 27, 2013. This dividend is scheduled to be paid on January 15, 2014, to shareholders of record as of December 27, 2013. The announcement reflects the company's ongoing commitment to returning value to shareholders through its dividend policy, although future dividends remain subject to various factors including financial performance and debt covenants.
Key Highlights
- 1Declaration of a quarterly cash dividend of $0.30 per share.
- 2Record date for the dividend is December 27, 2013.
- 3Payment date for the dividend is January 15, 2014.
- 4The dividend is part of the company's established dividend policy.
- 5Future dividends are contingent upon financial position, results of operations, cash flows, capital requirements, and credit agreement restrictions.
- 6The Board of Directors retains the right to modify, suspend, or cancel the dividend policy at any time.
- 7The filing was made on November 13, 2013, with the earliest event date being November 13, 2013.
Frequently Asked Questions
The primary purpose of this 8-K filing is to officially announce that Western Digital Corp.'s Board of Directors has declared a cash dividend for the quarter ending December 27, 2013.
The declared cash dividend is $0.30 per share. It will be paid on January 15, 2014, to all shareholders who are on record as of December 27, 2013.
No, this dividend is declared for the specific quarter ending December 27, 2013. The company states that future dividends will depend on its financial performance, cash flows, capital needs, and any restrictions under its credit agreements. The Board of Directors also reserves the right to change the dividend policy.
This section indicates that the information provided, including the dividend announcement, is to ensure broad public dissemination of material information. However, in accordance with General Instruction B.2 of Form 8-K, this information is not considered 'filed' for the purposes of Section 18 of the Exchange Act, meaning it won't be subject to liability under that section and won't automatically be incorporated into future SEC filings unless specifically referenced.