Summary
Western Digital Corporation (WDC) has filed a Form 8-K on May 14, 2014, primarily disclosing its quarterly cash dividend declaration. The Board of Directors has declared a cash dividend of $0.40 per share of Common Stock for the quarter ending June 27, 2014. This dividend is scheduled to be paid on July 15, 2014, to stockholders of record as of June 27, 2014. The company also provided a disclaimer regarding its dividend policy, emphasizing that future dividends will depend on various factors including financial performance, cash flow, capital needs, and debt covenants. The Board retains the discretion to modify, suspend, or cancel the dividend policy at any time. This disclosure is intended to keep investors informed about the company's capital return strategy and financial management practices.
Key Highlights
- 1Declaration of a quarterly cash dividend of $0.40 per share.
- 2The dividend payment date is set for July 15, 2014.
- 3Record date for the dividend is June 27, 2014.
- 4Future dividend payments are subject to board approval and influenced by financial position, cash flows, and capital requirements.
- 5The company's credit agreement restrictions may impact future dividend declarations.
- 6The Board of Directors retains the flexibility to alter or suspend the dividend policy.